Eversource Energy (NYSE:ES) Given New $69.00 Price Target at Barclays

Eversource Energy (NYSE:ES) had its price objective lifted by Barclays from $65.00 to $69.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

A number of other brokerages have also commented on ES. Wells Fargo & Company boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an overweight rating in a research report on Friday, May 3rd. Scotiabank cut their target price on Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. Argus lowered their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating on the stock in a report on Monday, March 25th. Morgan Stanley reduced their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an equal weight rating for the company in a report on Monday, June 24th. Finally, UBS Group raised shares of Eversource Energy from a neutral rating to a buy rating and boosted their target price for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $66.43.

Eversource Energy Price Performance

Shares of ES stock opened at $63.60 on Monday. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $74.75. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The stock has a 50 day simple moving average of $58.86 and a two-hundred day simple moving average of $58.41.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. Eversource Energy’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, analysts forecast that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.50%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares in the company, valued at $603,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now directly owns 63,808 shares in the company, valued at approximately $3,586,009.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at $603,480. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eversource Energy

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in Eversource Energy by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock worth $448,567,000 after buying an additional 353,171 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after buying an additional 1,524,341 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Eversource Energy by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after purchasing an additional 354,429 shares during the last quarter. Magellan Asset Management Ltd grew its stake in shares of Eversource Energy by 5.4% during the fourth quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock valued at $189,301,000 after buying an additional 156,534 shares during the last quarter. Finally, ClearBridge Investments Ltd bought a new stake in Eversource Energy in the first quarter valued at approximately $156,093,000. 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.