Eversource Energy (NYSE:ES) had its price objective trimmed by Barclays PLC from $65.00 to $61.00 in a research note issued to investors on Tuesday. The brokerage currently has an equal weight rating on the stock.
ES has been the topic of several other reports. Williams Capital reissued a buy rating on shares of Eversource Energy in a research report on Friday, September 2nd. Citigroup Inc. decreased their price objective on Eversource Energy from $61.00 to $54.00 and set a neutral rating on the stock in a research note on Tuesday, October 4th. Zacks Investment Research raised Eversource Energy from a sell rating to a hold rating in a research note on Thursday, June 23rd. Janney Montgomery Scott raised Eversource Energy from a neutral rating to a buy rating and set a $67.00 price objective on the stock in a research note on Monday, August 1st. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $58.00 price objective (down previously from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $59.71.
Shares of Eversource Energy (NYSE:ES) opened at 52.44 on Tuesday. The stock has a market cap of $16.63 billion, a price-to-earnings ratio of 19.28 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 $54.43 and a 200 day moving average price of $56.44.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.01. The firm earned $1.77 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The company’s revenue for the quarter 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 forecast that Eversource Energy will post $2.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.39%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s dividend payout ratio (DPR) is presently 65.44%.
In related 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Virginia Retirement System purchased a new stake in Eversource Energy during the first quarter worth about $300,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in Eversource Energy by 1.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 46,787 shares of the company’s stock worth $2,730,000 after buying an additional 550 shares during the last quarter. Teachers Advisors Inc. increased its stake in Eversource Energy by 2.6% in the first quarter. Teachers Advisors Inc. now owns 845,571 shares of the company’s stock worth $49,331,000 after buying an additional 21,553 shares during the last quarter. Prudential Financial Inc. increased its stake in Eversource Energy by 0.7% in the first quarter. Prudential Financial Inc. now owns 410,113 shares of the company’s stock worth $23,926,000 after buying an additional 2,700 shares during the last quarter. Finally, FDO Partners LLC purchased a new stake in Eversource Energy during the first quarter worth about $484,000. 69.38% of the stock is currently owned by institutional investors.
Eversource Energy Company Profile
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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