Eversource Energy (NYSE:ES) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Eversource Energy (NYSE:ES) in a report published on Tuesday morning, MarketBeat Ratings reports. The firm issued an underperform rating and a $52.00 price target on the utilities provider’s stock.

Other research analysts have also issued reports about the company. Scotiabank upped their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley increased their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Bank of America raised their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Barclays increased 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. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.15.

Eversource Energy Price Performance

NYSE ES opened at $61.64 on Tuesday. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The company has a fifty day simple moving average of $64.00 and a 200 day simple moving average of $63.03. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The company has a market cap of $22.58 billion, a P/E ratio of -39.26, a P/E/G ratio of 2.45 and a beta of 0.60.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results 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 positive return on equity of 10.90% and a negative net margin of 4.73%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.64%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is -182.17%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Lynx Investment Advisory bought a new stake in shares of Eversource Energy in the 2nd quarter worth about $25,000. Brooklyn Investment Group acquired a new position in Eversource Energy in the third quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new stake in Eversource Energy during the third quarter worth about $32,000. UMB Bank n.a. increased its holdings in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.