Analysts Set Eversource Energy (NYSE:ES) Target Price at $66.07

Shares of Eversource Energy (NYSE:ES) have received a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $65.86.

A number of research firms recently weighed in on ES. BMO Capital Markets lifted their price target on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Morgan Stanley lowered their price target on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Wells Fargo & Company raised their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. Finally, Bank of America raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price for the company in a report on Tuesday, June 25th.

Eversource Energy Price Performance

Shares of ES opened at $56.71 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The company’s fifty day moving average is $59.35 and its two-hundred day moving average is $58.72.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, analysts forecast that Eversource Energy will post 4.53 earnings per share for the current fiscal 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 issued a $0.715 dividend. 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 5.04%. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Insider Activity at Eversource Energy

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

Institutional Trading of Eversource Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heritage Wealth Advisors acquired a new position in Eversource Energy in the fourth quarter valued at $25,000. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in shares of Eversource Energy during the 1st quarter worth about $27,000. Bfsg LLC acquired a new stake in Eversource Energy during the 4th quarter worth approximately $31,000. Finally, Versant Capital Management Inc raised its holdings in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.