Eversource Energy (NYSE:ES) Price Target Cut to $74.00 by Analysts at Wells Fargo & Company

Eversource Energy (NYSE:ES) had its target price decreased by Wells Fargo & Company from $78.00 to $74.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

ES has been the topic of a number of other reports. Bank of America lowered their price objective on shares of Eversource Energy from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Mizuho reduced their price target on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Argus upgraded shares of Eversource Energy to a “strong-buy” rating in a research report on Tuesday, March 24th. JPMorgan Chase & Co. raised their price objective on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Finally, UBS Group cut their price objective on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $71.90.

Eversource Energy Stock Up 0.6%

ES opened at $69.71 on Wednesday. The business’s fifty day moving average is $71.23 and its two-hundred day moving average is $70.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.65. The company has a market cap of $26.20 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 3.72 and a beta of 0.76. Eversource Energy has a one year low of $52.28 and a one year high of $76.41.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th were issued a $0.7875 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 5th. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. Eversource Energy’s payout ratio is currently 68.93%.

Insider Buying and Selling at Eversource Energy

In other news, insider Cotton M. Cleveland sold 2,581 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the transaction, the insider owned 79,364 shares of the company’s stock, valued at $5,941,982.68. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Y. Kim sold 6,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $907,780.23. The trade was a 32.72% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,381 shares of company stock worth $1,211,079. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

Several hedge funds and other institutional investors have recently bought and sold shares of ES. Lodestone Wealth Management LLC acquired a new position in Eversource Energy in the 4th quarter valued at $25,000. Root Financial Partners LLC acquired a new stake in shares of Eversource Energy during the third quarter worth $26,000. Activest Wealth Management grew its position in shares of 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 period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Eversource Energy in the third quarter valued at $27,000. Finally, 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. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.