Eversource Energy (NYSE:ES) Price Target Cut to $55.00 by Analysts at Scotiabank

Eversource Energy (NYSE:ES) had its target price reduced by Scotiabank from $56.00 to $55.00 in a report released on Thursday morning,Benzinga reports. They currently have a sector underperform rating on the utilities provider’s stock.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research report on Monday. Barclays decreased their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.00.

Eversource Energy Trading Up 4.7 %

NYSE:ES opened at $62.50 on Thursday. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The company’s 50 day moving average is $57.89 and its two-hundred day moving average is $62.68.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping the consensus estimate 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%. On average, sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s payout ratio is currently -182.17%.

Hedge Funds Weigh In On Eversource Energy

Several large investors have recently made changes to their positions in ES. Wellington Management Group LLP acquired a new position in shares of Eversource Energy in the 3rd quarter valued at $808,783,000. Norges Bank acquired a new position in shares of Eversource Energy in the 4th quarter valued at $188,838,000. Amundi lifted its stake in shares of Eversource Energy by 32.2% in the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock valued at $367,691,000 after purchasing an additional 1,579,818 shares during the period. Vanguard Group Inc. increased its holdings in Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after acquiring an additional 1,387,072 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its holdings in Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider’s stock worth $371,829,000 after acquiring an additional 890,514 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.