Eversource Energy (ES) Sets New 1-Year High Following Analyst Upgrade

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Eversource Energy (NYSE:ES) shares reached a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $69.00 to $71.00. Morgan Stanley currently has an equal weight rating on the stock. Eversource Energy traded as high as $70.62 and last traded at $70.38, with a volume of 498719 shares. The stock had previously closed at $70.15.

Several other research analysts also recently commented on ES. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Wednesday, November 28th. ValuEngine raised shares of Eversource Energy from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Barclays set a $66.00 target price on shares of Eversource Energy and gave the stock a “hold” rating in a research note on Saturday, November 17th. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, December 12th. Finally, Credit Suisse Group upgraded shares of Eversource Energy from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $62.00 to $73.00 in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Eversource Energy has an average rating of “Buy” and a consensus target price of $67.36.

A number of hedge funds and other institutional investors have recently bought and sold shares of ES. Bremer Trust National Association purchased a new stake in shares of Eversource Energy during the 4th quarter valued at $26,000. Certified Advisory Corp raised its position in shares of Eversource Energy by 114.8% during the 4th quarter. Certified Advisory Corp now owns 421 shares of the utilities provider’s stock valued at $27,000 after buying an additional 225 shares in the last quarter. Destination Wealth Management purchased a new stake in shares of Eversource Energy during the 4th quarter valued at $29,000. Cascade Investment Advisors Inc. purchased a new stake in shares of Eversource Energy during the 4th quarter valued at $34,000. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Eversource Energy by 6,323.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,217,214 shares of the utilities provider’s stock valued at $34,000 after buying an additional 2,182,698 shares in the last quarter. Institutional investors and hedge funds own 74.24% of the company’s stock.

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.54 and a current ratio of 0.59. The stock has a market cap of $22.20 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 3.46 and a beta of 0.32.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th will be given a dividend of $0.535 per share. The ex-dividend date is Monday, March 4th. This represents a $2.14 annualized dividend and a dividend yield of 3.05%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.51. Eversource Energy’s dividend payout ratio (DPR) is 64.95%.

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About Eversource Energy (NYSE:ES)

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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