BMO Capital Markets Increases Eversource Energy (NYSE:ES) Price Target to $74.00

Eversource Energy (NYSE:ES) had its price objective upped by BMO Capital Markets from $70.00 to $74.00 in a research report released on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays raised their target price on Eversource Energy from $65.00 to $69.00 and gave the company an equal weight rating in a research report on Monday, July 22nd. Wells Fargo & Company raised their target price on Eversource Energy from $72.00 to $79.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Scotiabank raised their target price on Eversource Energy from $57.00 to $66.00 and gave the company a sector perform rating in a research report on Tuesday, August 20th. Mizuho lifted their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an outperform rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a neutral rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy currently has an average rating of Hold and an average price target of $70.00.

Eversource Energy Stock Performance

NYSE ES opened at $65.38 on Thursday. The stock has a 50-day simple moving average of $66.63 and a two-hundred day simple moving average of $61.87. The firm has a market capitalization of $23.03 billion, a P/E ratio of -55.41, a PEG ratio of 2.54 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business posted $1.00 EPS. The company’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -242.37%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

Institutional investors have recently made changes to their positions in the company. Lynx Investment Advisory purchased a new stake in Eversource Energy in the second quarter valued at approximately $25,000. Rise Advisors LLC purchased a new stake in Eversource Energy in the first quarter valued at approximately $27,000. Versant Capital Management Inc raised its position in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the period. Salem Investment Counselors Inc. raised its position in Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 181 shares during the period. Finally, Manchester Capital Management LLC raised its position in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 276 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.