Eversource Energy (NYSE:ES) Price Target Cut to $75.00 by Analysts at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective lowered by BMO Capital Markets from $79.00 to $75.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a market perform rating on the utilities provider’s stock.

ES has been the subject of several other research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a report on Wednesday, January 28th. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Bank of America restated a “buy” rating on shares of Eversource Energy in a research note on Monday, March 2nd. Wells Fargo & Company upgraded shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $71.00 to $78.00 in a report on Tuesday, February 17th. Finally, Janney Montgomery Scott raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.90.

Eversource Energy Price Performance

Shares of NYSE ES opened at $67.62 on Monday. The firm has a market capitalization of $25.39 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.89 and a beta of 0.76. The firm’s 50-day moving average price is $71.48 and its 200-day moving average price is $69.97. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $76.41.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, February 12th. The utilities provider reported $1.12 EPS for the quarter, beating 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 company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the business posted $1.01 EPS. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.7875 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, March 5th. This represents a $3.15 annualized dividend and a yield of 4.7%. Eversource Energy’s dividend payout ratio (DPR) is 68.93%.

Insiders Place Their Bets

In other Eversource Energy news, insider John Y. Kim sold 6,000 shares of Eversource Energy stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $73.57, for a total transaction of $441,420.00. Following the transaction, the insider directly owned 12,339 shares of the company’s stock, valued at $907,780.23. The trade was a 32.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cotton M. Cleveland sold 2,581 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $74.87, for a total transaction of $193,239.47. Following the completion of the sale, the insider owned 79,364 shares of the company’s stock, valued at approximately $5,941,982.68. The trade was a 3.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,381 shares of company stock valued at $1,211,079 in the last three months. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eversource Energy

Hedge funds have recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in shares of Eversource Energy by 5.4% in the third quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider’s stock valued at $27,521,000 after purchasing an additional 19,795 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Eversource Energy by 31.1% during the second quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock valued at $2,506,000 after purchasing an additional 9,350 shares in the last quarter. Synergy Asset Management LLC lifted its position in Eversource Energy by 287.7% during the third quarter. Synergy Asset Management LLC now owns 160,322 shares of the utilities provider’s stock valued at $10,783,000 after purchasing an additional 118,971 shares during the last quarter. Global Retirement Partners LLC bought a new position in Eversource Energy during the second quarter valued at $477,000. Finally, SteelPeak Wealth LLC purchased a new position in shares of Eversource Energy in the 3rd quarter worth $868,000. Institutional investors own 79.99% of the company’s stock.

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.