Eversource Energy (NYSE:ES) Receives $70.46 Consensus Price Target from Brokerages

Eversource Energy (NYSE:ES) has been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $70.46.

A number of brokerages recently weighed in on ES. BMO Capital Markets decreased their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Mizuho increased their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd.

Eversource Energy Stock Up 1.0 %

Shares of NYSE ES opened at $63.38 on Wednesday. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The firm has a fifty day moving average of $64.68 and a 200-day moving average of $62.93. The stock has a market capitalization of $23.22 billion, a PE ratio of -40.37, a P/E/G ratio of 2.51 and a beta of 0.61. 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 (NYSE:ES) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the company earned $0.97 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.51%. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ES. Lynx Investment Advisory bought a new position in shares of Eversource Energy during the 2nd quarter valued at $25,000. Brooklyn Investment Group acquired a new stake in Eversource Energy in the 3rd quarter worth $31,000. Ashton Thomas Securities LLC acquired a new stake in Eversource Energy in the 3rd quarter worth $32,000. UMB Bank n.a. grew its position in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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.