Analysts Set Eversource Energy (NYSE:ES) Price Target at $71.27

by · The Cerbat Gem

Eversource Energy (NYSE:ES – Get Free Report) has been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $71.2727.

ES has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Mizuho restated a “neutral” rating and set a $68.00 price target (down from $81.00) on shares of Eversource Energy in a research report on Thursday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Janney Montgomery Scott raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st.

View Our Latest Research Report on ES

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $67.37 on Thursday. The stock has a market capitalization of $25.28 billion, a P/E ratio of 18.46, a PEG ratio of 2.40 and a beta of 0.76. The business has a 50 day simple moving average of $69.42 and a two-hundred day simple moving average of $67.46. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64.

Eversource Energy (NYSE:ES – Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company posted $1.13 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.5%. The ex-dividend date was Wednesday, December 17th. Eversource Energy’s dividend payout ratio is presently 82.47%.

Insider Activity

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This trade represents a 11.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

Institutional Trading of Eversource Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in Eversource Energy in the third quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Eversource Energy in the 3rd quarter valued at $27,000. Neo Ivy Capital Management acquired a new position in shares of Eversource Energy in the 2nd quarter valued at $26,000. Trust Co. of Toledo NA OH purchased a new position in shares of Eversource Energy during the 2nd quarter worth $28,000. Finally, Johnson Financial Group Inc. increased its position in shares of Eversource Energy by 73.5% during the 3rd quarter. Johnson Financial Group Inc. now owns 465 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

(Get Free Report)

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.

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