Eversource Energy (NYSE:ES) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Eversource Energy (NYSE:ES) had its price target reduced by Wells Fargo & Company from $79.00 to $75.00 in a research report sent to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages have also issued reports on ES. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday. Barclays cut their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Jefferies Financial Group cut their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Finally, Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price target for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $67.00.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $62.50 on Thursday. The company’s fifty day moving average is $57.89 and its 200 day moving average is $62.68. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. As a group, equities research analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.82%. Eversource Energy’s payout ratio is presently -182.17%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ES. Exchange Traded Concepts LLC purchased a new position in Eversource Energy during the 3rd quarter valued at about $114,000. Creative Planning lifted its position in Eversource Energy by 6.7% during the 3rd quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock valued at $5,863,000 after acquiring an additional 5,417 shares during the period. Swedbank AB lifted its position in Eversource Energy by 2.2% during the 3rd quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock valued at $35,684,000 after acquiring an additional 11,111 shares during the period. McKinley Carter Wealth Services Inc. purchased a new position in Eversource Energy in the third quarter worth about $226,000. Finally, ZWJ Investment Counsel Inc. raised its holdings in Eversource Energy by 24.0% in the third quarter. ZWJ Investment Counsel Inc. now owns 260,600 shares of the utilities provider’s stock worth $17,734,000 after buying an additional 50,483 shares during the last quarter. 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.