Analysts Set Eversource Energy (NYSE:ES) Price Target at $68.38

Shares of Eversource Energy (NYSE:ES) have received an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $68.38.

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their price target for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Mizuho raised their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. BMO Capital Markets lowered their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Finally, Barclays increased their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th.

Eversource Energy Stock Performance

NYSE:ES opened at $56.63 on Thursday. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The company has a fifty day simple moving average of $59.64 and a two-hundred day simple moving average of $62.94. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Eversource Energy’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. Sell-side analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Wednesday, December 18th. Eversource Energy’s payout ratio is currently -182.17%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Eversource Energy in the third quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in Eversource Energy in the 3rd quarter valued at $32,000. UMB Bank n.a. boosted its stake in Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC grew its position in Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Eversource Energy during the 3rd quarter worth $48,000. 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.