Argus reiterated their buy rating on shares of Eversource Energy (NYSE:ES) in a research report sent to investors on Wednesday morning. They currently have a $59.00 target price on the stock, down from their previous target price of $64.00.
A number of other research firms also recently weighed in on ES. Zacks Investment Research downgraded Eversource Energy from a hold rating to a sell rating in a research note on Thursday, September 15th. Barclays PLC increased their price target on Eversource Energy from $62.00 to $65.00 and gave the company an equal weight rating in a research note on Thursday, July 7th. Citigroup Inc. cut their price target on Eversource Energy from $61.00 to $54.00 and set a neutral rating on the stock in a research note on Tuesday, October 4th. Janney Montgomery Scott raised Eversource Energy from a neutral rating to a buy rating and set a $67.00 price target on the stock in a research note on Monday, August 1st. Finally, Williams Capital reissued a buy rating on shares of Eversource Energy in a research note on Friday, September 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Eversource Energy currently has an average rating of Hold and an average target price of $59.67.
Eversource Energy (NYSE:ES) opened at 53.75 on Wednesday. The stock has a market cap of $17.05 billion, a P/E ratio of 19.76 and a beta of 0.29. Eversource Energy has a 52 week low of $48.18 and a 52 week high of $60.44. The firm has a 50-day moving average price of $54.04 and a 200-day moving average price of $56.21.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.01. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Eversource Energy will post $2.97 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s dividend payout ratio (DPR) is presently 65.44%.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new position in Eversource Energy during the second quarter worth about $62,821,000. AMP Capital Investors Ltd boosted its position in shares of Eversource Energy by 4.5% in the first quarter. AMP Capital Investors Ltd now owns 978,129 shares of the company’s stock valued at $57,114,000 after buying an additional 42,077 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Eversource Energy by 64.8% in the second quarter. Artemis Investment Management LLP now owns 295,248 shares of the company’s stock valued at $17,682,000 after buying an additional 116,088 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Eversource Energy by 21.8% in the first quarter. Renaissance Technologies LLC now owns 903,400 shares of the company’s stock valued at $52,704,000 after buying an additional 161,400 shares during the last quarter. Finally, Icon Advisers Inc. Co. boosted its position in shares of Eversource Energy by 87.7% in the second quarter. Icon Advisers Inc. Co. now owns 53,300 shares of the company’s stock valued at $3,193,000 after buying an additional 24,900 shares during the last quarter. Hedge funds and other institutional investors own 69.34% 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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