Eversource Energy (NYSE:ES) Price Target Cut to $63.00 by Analysts at Scotiabank

Eversource Energy (NYSE:ES) had its price target reduced by Scotiabank from $66.00 to $63.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sector underperform rating on the utilities provider’s stock.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their price target on Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Seaport Research Partners lowered Eversource Energy from a “buy” rating to a “neutral” rating in a report on Monday. Mizuho reduced their price target on Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Bank of America reduced their price target on Eversource Energy from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Finally, Argus upgraded Eversource Energy to a “strong-buy” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average price target of $71.90.

Eversource Energy Stock Down 2.4%

NYSE ES opened at $66.88 on Tuesday. Eversource Energy has a 52 week low of $56.92 and a 52 week high of $76.41. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.66. The business’s fifty day simple moving average is $71.29 and its 200-day simple moving average is $70.22. The firm has a market cap of $25.14 billion, a PE ratio of 14.64, a P/E/G ratio of 3.74 and a beta of 0.76.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, February 12th. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.10 by $0.02. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, equities analysts anticipate that Eversource Energy will post 4.8 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 5th were issued a $0.7875 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 5th. This represents a $3.15 annualized dividend and a yield of 4.7%. Eversource Energy’s payout ratio is presently 68.93%.

Insider Activity at Eversource Energy

In related news, insider Cotton M. Cleveland sold 2,581 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the sale, the insider directly owned 79,364 shares in the company, valued at approximately $5,941,982.68. The trade was a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John M. Moreira sold 7,800 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $73.90, for a total transaction of $576,420.00. Following the completion of the sale, the executive vice president owned 43,269 shares in the company, valued at approximately $3,197,579.10. This trade represents a 15.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,381 shares of company stock worth $1,211,079. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

Institutional investors have recently bought and sold shares of the company. Lodestone Wealth Management LLC acquired a new position in Eversource Energy in the 4th quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in Eversource Energy in the 3rd quarter valued at about $26,000. Activest Wealth Management grew its position in Eversource Energy by 2,337.5% in the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 374 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Eversource Energy in the 3rd quarter valued at about $27,000. Finally, TFC Financial Management Inc. grew its position in Eversource Energy by 2,857.1% in the 4th quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.