Eversource Energy (NYSE:ES) Given New $79.00 Price Target at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price target lifted by BMO Capital Markets from $75.00 to $79.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on ES. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Wells Fargo & Company raised shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $71.00 to $78.00 in a research note on Tuesday. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, November 24th. JPMorgan Chase & Co. lowered their price target on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, Scotiabank cut their price target on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.90.

Eversource Energy Trading Down 0.5%

NYSE ES opened at $73.00 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. The stock’s 50-day simple moving average is $68.68 and its two-hundred day simple moving average is $68.58. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 3.16 and a beta of 0.77.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, February 12th. The utilities provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.94 billion. Eversource Energy had a return on equity of 11.27% and a net margin of 12.49%.The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 EPS. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 4.3%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 5th. Eversource Energy’s payout ratio is currently 65.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Eversource Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock valued at $3,198,996,000 after buying an additional 697,829 shares during the period. State Street Corp lifted its stake in Eversource Energy by 4.7% in the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock worth $1,886,119,000 after acquiring an additional 1,265,802 shares during the period. Geode Capital Management LLC boosted its holdings in Eversource Energy by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock valued at $646,233,000 after acquiring an additional 194,781 shares in the last quarter. Victory Capital Management Inc. increased its position in Eversource Energy by 61.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after purchasing an additional 3,645,555 shares during the period. Finally, Magellan Asset Management Ltd increased its position in Eversource Energy by 6.5% during the 3rd quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock valued at $526,919,000 after purchasing an additional 454,658 shares during the period. Institutional investors own 79.99% of the company’s stock.

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.