Eversource Energy (NYSE:ES) Receives Average Rating of “Hold” from Analysts

Shares of Eversource Energy (NYSE:ES) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $66.43.

ES has been the subject of several research reports. BMO Capital Markets lifted their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price for the company. UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, Argus reduced their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th.

Eversource Energy Trading Up 1.1 %

NYSE ES opened at $61.76 on Thursday. Eversource Energy has a one year low of $52.03 and a one year high of $74.75. The company has a 50-day simple moving average of $58.77 and a 200-day simple moving average of $58.35. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a market capitalization of $21.76 billion, a PE ratio of -52.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the business posted $1.41 EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis. On average, equities analysts forecast that Eversource Energy will post 4.55 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Wednesday, May 15th. Eversource Energy’s dividend payout ratio is currently -242.37%.

Insider Transactions at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 10,272 shares in the company, valued at $603,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Prossimo Advisors LLC grew its position in Eversource Energy by 5.4% in the second quarter. Prossimo Advisors LLC now owns 5,819 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 299 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Eversource Energy by 86.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 31,214 shares of the utilities provider’s stock worth $1,771,000 after buying an additional 14,475 shares during the period. ZWJ Investment Counsel Inc. boosted its holdings in shares of Eversource Energy by 6.5% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 210,117 shares of the utilities provider’s stock worth $11,916,000 after buying an additional 12,885 shares during the period. Raymond James & Associates boosted its holdings in shares of Eversource Energy by 2.1% during the 2nd quarter. Raymond James & Associates now owns 170,963 shares of the utilities provider’s stock worth $9,695,000 after buying an additional 3,475 shares during the period. Finally, Brookstone Capital Management boosted its holdings in shares of Eversource Energy by 9.7% during the 2nd quarter. Brookstone Capital Management now owns 26,825 shares of the utilities provider’s stock worth $1,651,000 after buying an additional 2,379 shares during the period. Institutional investors and hedge funds 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.