Eversource Energy (NYSE:ES) Given New $72.00 Price Target at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective reduced by BMO Capital Markets from $73.00 to $72.00 in a research note released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

ES has been the topic of several other research reports. Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Mizuho dropped their price objective on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Capital One Financial set a $73.00 target price on shares of Eversource Energy in a research note on Wednesday, July 1st. UBS Group dropped their price target on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, Wells Fargo & Company upped their price objective on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.82.

Eversource Energy Price Performance

Eversource Energy stock opened at $74.53 on Wednesday. The company’s 50 day simple moving average is $71.06 and its 200-day simple moving average is $70.44. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.41. The company has a market capitalization of $28.03 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 4.83 and a beta of 0.70.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.14. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities research analysts expect that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were paid a dividend of $0.7875 per share. The ex-dividend date was Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.2%. Eversource Energy’s payout ratio is presently 67.31%.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following the transaction, the vice president owned 56,179 shares of the company’s stock, valued at $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Elevation Wealth Partners LLC raised its position in shares of Eversource Energy by 220.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 240 shares in the last quarter. Lodestone Wealth Management LLC purchased a new position in Eversource Energy in the fourth quarter valued at approximately $25,000. Activest Wealth Management increased its stake in Eversource Energy by 2,337.5% in the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 374 shares during the last quarter. TFC Financial Management Inc. increased its stake in Eversource Energy by 2,857.1% in the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Eversource Energy during the fourth quarter worth approximately $28,000. 79.99% of the stock is owned by institutional investors and hedge funds.

About Eversource Energy

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.