Eversource Energy (NYSE:ES) has received an average recommendation of “Hold” from the nine ratings firms that are covering the firm. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $59.80.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, June 15th. Barclays PLC reduced their price objective on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 4th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Monday, August 1st. Citigroup Inc. reduced their price objective on Eversource Energy from $61.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $58.00 target price (down previously from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th.
Shares of Eversource Energy (NYSE:ES) opened at 52.44 on Tuesday. Eversource Energy has a 12-month low of $48.18 and a 12-month high of $60.44. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 19.28 and a beta of 0.29. The firm has a 50-day moving average price of $54.43 and a 200 day moving average price of $56.44.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (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 company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Eversource Energy will post $2.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s dividend payout ratio is presently 65.44%.
In other news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total value of $547,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.89% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Mycio Wealth Partners LLC boosted its position in shares of Eversource Energy by 100.0% in the second quarter. Mycio Wealth Partners LLC now owns 1,770 shares of the company’s stock worth $106,000 after buying an additional 885 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Eversource Energy by 167.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,901 shares of the company’s stock worth $113,000 after buying an additional 1,189 shares during the last quarter. WFG Advisors LP boosted its position in shares of Eversource Energy by 7.8% in the second quarter. WFG Advisors LP now owns 1,994 shares of the company’s stock worth $119,000 after buying an additional 145 shares during the last quarter. Bellwether Investment Group LLC bought a new position in shares of Eversource Energy during the second quarter worth about $132,000. Finally, SevenBridge Financial Group LLC bought a new position in shares of Eversource Energy during the second quarter worth about $138,000. Institutional investors and hedge funds own 69.38% of the company’s stock.
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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