Eversource Energy (NYSE:ES) Receives $65.78 Consensus Price Target from Analysts

Shares of Eversource Energy (NYSE:ES) have been given an average rating of “Hold” by the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $65.78.

A number of analysts have commented on ES shares. BMO Capital Markets lifted their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Wall Street Zen raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the transaction, the executive vice president now directly owns 10,988 shares in the company, valued at approximately $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors have recently bought and sold shares of the company. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC bought a new position in Eversource Energy in the fourth quarter valued at $29,000. Assetmark Inc. increased its stake in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after buying an additional 254 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in Eversource Energy during the 4th quarter worth about $33,000. Finally, Venturi Wealth Management LLC lifted its position in Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after buying an additional 301 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Down 1.0%

NYSE:ES opened at $65.13 on Friday. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 2.35 and a beta of 0.63. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s fifty day moving average price is $61.31 and its two-hundred day moving average price is $60.13. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 earnings per share. On average, analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s payout ratio is currently 129.74%.

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.