Eversource Energy (NYSE:ES) PT Lowered to $57.00 at Scotiabank

Eversource Energy (NYSE:ES) had its target price trimmed by Scotiabank from $61.00 to $57.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the utilities provider’s stock.

Several other research analysts have also recently weighed in on ES. Mizuho upgraded shares of Eversource Energy from a neutral rating to a buy rating and upped their price target for the company from $54.00 to $62.00 in a report on Thursday, February 15th. Citigroup upped their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the company a neutral rating in a report on Thursday, February 15th. The Goldman Sachs Group started coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a buy rating and a $73.00 price target for the company. UBS Group upgraded shares of Eversource Energy from a neutral rating to a buy rating and upped their price target for the company from $62.00 to $67.00 in a report on Thursday, April 4th. Finally, Argus reduced their target price on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating for the company in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy currently has a consensus rating of Hold and a consensus target price of $65.85.

Eversource Energy Stock Down 0.5 %

Shares of NYSE:ES opened at $60.52 on Monday. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $79.43. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The company has a market capitalization of $21.23 billion, a PE ratio of -48.03, a PEG ratio of 3.20 and a beta of 0.58. The company has a 50 day moving average price of $58.92 and a two-hundred day moving average price of $57.94.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Analysts forecast that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.73%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is currently -226.98%.

Insider Buying and Selling

In related news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Eversource Energy

A number of large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Eversource Energy by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock worth $448,567,000 after buying an additional 353,171 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Eversource Energy by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock valued at $385,457,000 after purchasing an additional 163,053 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Eversource Energy by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock valued at $388,509,000 after purchasing an additional 475,341 shares in the last quarter. Morgan Stanley boosted its stake in shares of Eversource Energy by 19.3% in the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after purchasing an additional 723,318 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Eversource Energy by 2.7% in the 3rd quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock valued at $246,409,000 after purchasing an additional 111,294 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.