Brokerages Set Eversource Energy (NYSE:ES) Target Price at $67.40

Eversource Energy (NYSE:ES) has earned an average rating of “Hold” from the eleven research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $67.40.

ES has been the subject of several recent research reports. Scotiabank decreased their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group reduced their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd.

Eversource Energy Stock Up 1.7 %

Shares of ES opened at $62.19 on Tuesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The stock has a market capitalization of $22.83 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.35 and a beta of 0.60. The stock has a fifty day moving average of $60.36 and a 200-day moving average of $61.50.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.84%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

Several hedge funds have recently bought and sold shares of ES. Mizuho Bank Ltd. acquired a new position in Eversource Energy during the fourth quarter worth $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy in the 4th quarter worth about $29,000. Assetmark Inc. lifted its position in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares in the last quarter. Brooklyn Investment Group acquired a new position in Eversource Energy during the 3rd quarter valued at about $31,000. Finally, Pinney & Scofield Inc. bought a new stake in Eversource Energy during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds 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.