Eversource Energy (NYSE:ES) had its price objective cut by equities researchers at Citigroup Inc. from $61.00 to $54.00 in a note issued to investors on Tuesday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 0.86% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Williams Capital restated a “buy” rating on shares of Eversource Energy in a research report on Friday, September 2nd. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, August 1st. Barclays PLC lifted their price objective on Eversource Energy from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, July 7th. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, July 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $58.00 price objective (down from $59.00) on shares of Eversource Energy in a report on Monday, June 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Eversource Energy currently has an average rating of “Hold” and a consensus price target of $59.71.
Eversource Energy (NYSE:ES) traded down 1.72% on Tuesday, hitting $52.62. The stock had a trading volume of 1,623,978 shares. Eversource Energy has a 12 month low of $48.18 and a 12 month high of $60.44. The firm’s 50 day moving average price is $54.83 and its 200-day moving average price is $56.57. The stock has a market cap of $16.69 billion, a PE ratio of 19.35 and a beta of 0.29.
Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business earned $0.65 earnings per share. Eversource Energy’s revenue was down 2.7% on a year-over-year basis. On average, analysts forecast that Eversource Energy will post $2.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, September 15th. Eversource Energy’s dividend payout ratio (DPR) is 65.44%.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $54.77, for a total value of $547,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.89% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ES. M&T Bank Corp raised its stake in Eversource Energy by 33.7% in the first quarter. M&T Bank Corp now owns 36,438 shares of the company’s stock valued at $2,126,000 after buying an additional 9,184 shares during the last quarter. Advisor Partners LLC raised its stake in Eversource Energy by 2.5% in the first quarter. Advisor Partners LLC now owns 5,932 shares of the company’s stock valued at $346,000 after buying an additional 145 shares during the last quarter. USS Investment Management Ltd raised its stake in Eversource Energy by 88.3% in the first quarter. USS Investment Management Ltd now owns 113,105 shares of the company’s stock valued at $6,601,000 after buying an additional 53,039 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Eversource Energy during the first quarter valued at approximately $59,370,000. Finally, Sentry Investment Management LLC raised its stake in Eversource Energy by 1.5% in the first quarter. Sentry Investment Management LLC now owns 24,060 shares of the company’s stock valued at $1,404,000 after buying an additional 359 shares during the last quarter. 69.38% of the stock is currently owned by institutional investors and hedge funds.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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