Eversource Energy (NYSE:ES) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Eversource Energy (NYSE:ES) have been assigned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $66.07.

Several research firms have weighed in on ES. Scotiabank cut their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company lifted their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. BMO Capital Markets increased their price target on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Morgan Stanley lifted their price objective on Eversource Energy from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Finally, Argus lowered their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th.

Eversource Energy Stock Performance

ES stock opened at $57.18 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $74.81. The business’s fifty day moving average is $59.48 and its 200-day moving average is $58.83. The company has a market cap of $20.14 billion, a P/E ratio of -48.46, a price-to-earnings-growth ratio of 2.37 and a beta of 0.60.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Equities research analysts forecast that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 5.00%. Eversource Energy’s payout ratio is currently -242.37%.

Insiders Place Their Bets

In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ES. Heritage Wealth Advisors bought a new position in shares of Eversource Energy during the 4th quarter worth approximately $25,000. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new position in shares of Eversource Energy in the first quarter valued at $27,000. Bfsg LLC bought a new position in shares of Eversource Energy in the fourth quarter valued at about $31,000. Finally, Versant Capital Management Inc lifted its stake in shares of Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares during the last quarter. Institutional investors 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.