Other equities analysts also recently issued reports about the company. Deutsche Bank AG restated a hold rating and issued a $58.00 price objective (down from $59.00) on shares of Eversource Energy in a report on Monday, June 27th. Zacks Investment Research downgraded Eversource Energy from a hold rating to a sell rating in a report on Wednesday, June 15th. Barclays PLC raised their price objective on Eversource Energy from $62.00 to $65.00 and gave the stock an equal weight rating in a report on Thursday, July 7th. Citigroup Inc. raised their price objective on Eversource Energy from $53.00 to $61.00 and gave the stock a neutral rating in a report on Wednesday, July 20th. Finally, Janney Montgomery Scott upgraded Eversource Energy from a neutral rating to a buy rating and set a $67.00 price objective on the stock in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $59.29.
Shares of Eversource Energy (NYSE:ES) traded up 1.54% during trading on Wednesday, reaching $53.39. The company had a trading volume of 816,767 shares. The company has a market capitalization of $16.94 billion, a P/E ratio of 19.63 and a beta of 0.29. Eversource Energy has a 52-week low of $48.18 and a 52-week high of $60.44. The firm has a 50-day moving average price of $54.17 and a 200-day moving average price of $56.33.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. The business earned $1.77 billion during the quarter, compared to analyst estimates of $1.81 billion. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. On average, analysts predict that Eversource Energy will post $2.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a dividend of $0.445 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.78 annualized dividend and a yield of 3.39%. Eversource Energy’s dividend payout ratio is presently 65.44%.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.89% of the company’s stock.
A number of large investors have recently bought and sold shares of ES. American Century Companies Inc. acquired a new stake in Eversource Energy during the second quarter valued at about $62,821,000. AMP Capital Investors Ltd increased its stake in Eversource Energy by 4.5% in the first quarter. AMP Capital Investors Ltd now owns 978,129 shares of the company’s stock valued at $57,114,000 after buying an additional 42,077 shares in the last quarter. Artemis Investment Management LLP increased its stake in Eversource Energy by 64.8% in the second quarter. Artemis Investment Management LLP now owns 295,248 shares of the company’s stock valued at $17,682,000 after buying an additional 116,088 shares in the last quarter. Renaissance Technologies LLC increased its stake in Eversource Energy by 21.8% in the first quarter. Renaissance Technologies LLC now owns 903,400 shares of the company’s stock valued at $52,704,000 after buying an additional 161,400 shares in the last quarter. Finally, Icon Advisers Inc. Co. increased its stake in Eversource Energy by 87.7% in the second quarter. Icon Advisers Inc. Co. now owns 53,300 shares of the company’s stock valued at $3,193,000 after buying an additional 24,900 shares in the last quarter. Institutional investors own 69.38% of the company’s stock.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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