Eversource Energy (NYSE:ES) Receives $67.45 Average Target Price from Brokerages

Eversource Energy (NYSE:ES) has been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $67.45.

Several brokerages have commented on ES. Barclays cut their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Jefferies Financial Group dropped their price objective 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. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st.

Insider Transactions at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System grew its position in shares of Eversource Energy by 1.0% during the third quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,368,000 after purchasing an additional 200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Eversource Energy by 26.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,250 shares of the utilities provider’s stock valued at $2,042,000 after buying an additional 6,409 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Eversource Energy by 8.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 58,101 shares of the utilities provider’s stock valued at $3,954,000 after buying an additional 4,281 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Eversource Energy by 2.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 101,201 shares of the utilities provider’s stock worth $6,776,000 after buying an additional 2,665 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Eversource Energy by 8.4% during the third quarter. State of Alaska Department of Revenue now owns 41,514 shares of the utilities provider’s stock worth $2,825,000 after acquiring an additional 3,210 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

ES opened at $58.66 on Friday. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The stock has a 50-day moving average price of $59.02 and a 200-day moving average price of $62.32. The firm has a market cap of $21.51 billion, a PE ratio of 25.39, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Sell-side analysts predict 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 will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 5.13%. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

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.