Argus Trims Eversource Energy (NYSE:ES) Target Price to $68.00

Eversource Energy (NYSE:ES) had its price target lowered by Argus from $85.00 to $68.00 in a research report released on Monday, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Several other equities analysts have also recently weighed in on ES. Mizuho raised shares of Eversource Energy from a neutral rating to a buy rating and raised their target price for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Guggenheim raised shares of Eversource Energy from a neutral rating to a buy rating and lifted their price objective for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Eversource Energy from $68.00 to $69.00 and gave the stock a neutral rating in a research note on Wednesday, November 29th. StockNews.com raised shares of Eversource Energy to a sell rating in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Eversource Energy from $67.00 to $69.00 and gave the stock an overweight rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $65.08.

Eversource Energy Stock Up 1.3 %

ES opened at $59.77 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $81.36. The company has a market capitalization of $20.96 billion, a PE ratio of -47.44, a PEG ratio of 2.97 and a beta of 0.58. The firm’s 50 day simple moving average is $56.98 and its two-hundred day simple moving average is $58.10.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The firm’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. As a group, equities analysts forecast that Eversource Energy will post 4.55 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th will be paid a $0.715 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Monday, March 4th. Eversource Energy’s dividend payout ratio is currently -226.98%.

Insider Activity

In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,250 shares of company stock valued at $352,014. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of hedge funds have recently bought and sold shares of the stock. United Capital Financial Advisers LLC grew its position in Eversource Energy by 3.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock worth $342,000 after purchasing an additional 134 shares during the period. Snowden Capital Advisors LLC boosted its stake in shares of Eversource Energy by 3.8% during the 1st quarter. Snowden Capital Advisors LLC now owns 4,101 shares of the utilities provider’s stock worth $321,000 after acquiring an additional 151 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Eversource Energy by 1.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617 shares of the utilities provider’s stock worth $1,058,000 after acquiring an additional 162 shares in the last quarter. Czech National Bank boosted its stake in shares of Eversource Energy by 0.3% during the 4th quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock worth $3,776,000 after acquiring an additional 168 shares in the last quarter. Finally, Toroso Investments LLC boosted its stake in shares of Eversource Energy by 4.2% during the 1st quarter. Toroso Investments LLC now owns 4,484 shares of the utilities provider’s stock worth $351,000 after acquiring an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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.