Eversource Energy’s (ES) Hold (C+) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c+) rating on shares of Eversource Energy (NYSE:ES) in a research report sent to investors on Friday morning,Weiss Ratings reports.

Several other analysts have also issued reports on ES. TD Cowen initiated coverage on Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price on the stock. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $73.00 to $85.00 in a research note on Tuesday, October 21st. Wells Fargo & Company started coverage on Eversource Energy in a research note on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective on the stock. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Finally, Jefferies Financial Group boosted their price objective on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.56.

Eversource Energy Stock Performance

Shares of ES opened at $73.89 on Friday. The firm has a market cap of $27.42 billion, a PE ratio of 31.71, a PEG ratio of 2.65 and a beta of 0.69. The stock’s fifty day moving average price is $68.92 and its two-hundred day moving average price is $65.55. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. On average, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio is currently 129.18%.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eversource Energy

Institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new position in Eversource Energy in the 2nd quarter worth about $26,000. Root Financial Partners LLC bought a new position in Eversource Energy in the 3rd quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Eversource Energy in the 3rd quarter worth about $27,000. Trust Co. of Toledo NA OH bought a new position in Eversource Energy in the 2nd quarter worth about $28,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Eversource Energy in the 2nd quarter worth about $31,000. 79.99% of the stock is currently owned by institutional investors.

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.