Brokerages Set Eversource Energy (NYSE:ES) PT at $68.93

Shares of Eversource Energy (NYSE:ES) have received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $70.00.

Several brokerages have recently issued reports on ES. Wells Fargo & Company lifted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Scotiabank increased their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Barclays increased their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Finally, Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd.

Eversource Energy Stock Down 2.0 %

ES stock opened at $64.10 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The stock has a market capitalization of $22.58 billion, a PE ratio of -54.32, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The firm has a 50 day moving average of $66.63 and a 200 day moving average of $61.87.

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

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.46%. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Insider Transactions at Eversource Energy

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. FC Advisory LLC acquired a new stake in shares of Eversource Energy during the third quarter valued at $234,000. Czech National Bank raised its stake in Eversource Energy by 8.5% in the 3rd quarter. Czech National Bank now owns 72,803 shares of the utilities provider’s stock valued at $4,954,000 after purchasing an additional 5,678 shares during the last quarter. Bard Financial Services Inc. lifted its holdings in Eversource Energy by 166.8% in the 3rd quarter. Bard Financial Services Inc. now owns 16,800 shares of the utilities provider’s stock valued at $1,143,000 after purchasing an additional 10,504 shares in the last quarter. Thrive Wealth Management LLC acquired a new position in shares of Eversource Energy in the third quarter valued at approximately $207,000. Finally, Rockland Trust Co. lifted its stake in shares of Eversource Energy by 2.0% during the third quarter. Rockland Trust Co. now owns 14,052 shares of the utilities provider’s stock valued at $956,000 after buying an additional 275 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.