Eversource Energy (NYSE:ES) Receives $68.38 Average PT from Brokerages

Eversource Energy (NYSE:ES) has earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $68.38.

Several equities research analysts have recently weighed in on ES shares. Mizuho upped their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Bank of America upped their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays lifted their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. Finally, Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price objective for the company from $66.00 to $56.00 in a research report on Thursday, December 12th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bensler LLC acquired a new position in shares of Eversource Energy during the 2nd quarter worth about $316,000. Landscape Capital Management L.L.C. grew its holdings in Eversource Energy by 46.9% during the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after purchasing an additional 10,093 shares during the period. Soltis Investment Advisors LLC bought a new stake in Eversource Energy in the third quarter valued at approximately $3,616,000. Toronto Dominion Bank raised its holdings in Eversource Energy by 23.2% in the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock worth $7,636,000 after purchasing an additional 25,377 shares during the period. Finally, State Street Corp boosted its position in shares of Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE ES opened at $58.53 on Friday. The stock has a market cap of $21.45 billion, a P/E ratio of -37.28, a PEG ratio of 2.38 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company’s 50-day simple moving average is $62.95 and its 200 day simple moving average is $63.16.

Eversource Energy (NYSE:ES) last issued its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Eversource Energy’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. As a group, research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.89%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is -182.17%.

About Eversource Energy

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.