Eversource Energy (NYSE:ES) has received an average recommendation of “Hold” from the nine research firms that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $60.60.
Several brokerages have weighed in on ES. Citigroup Inc. reissued a “hold” rating and set a $54.00 price target on shares of Eversource Energy in a research report on Tuesday. 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 lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. Barclays PLC upped their price objective on shares of Eversource Energy from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, July 7th. Finally, Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Monday, August 1st.
Eversource Energy (NYSE:ES) traded down 1.55% on Tuesday, reaching $52.71. 1,145,983 shares of the company traded hands. The company has a market capitalization of $16.72 billion, a PE ratio of 19.38 and a beta of 0.29. The stock’s 50 day moving average price is $54.83 and its 200 day moving average price is $56.57. Eversource Energy has a one year low of $48.18 and a one year high of $60.44.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. On average, equities research analysts predict that Eversource Energy will post $2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a $0.445 dividend. The ex-dividend date was Thursday, September 15th. This represents a $1.78 annualized dividend and a dividend yield of 3.32%. Eversource Energy’s payout ratio is 65.44%.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $54.77, for a total transaction of $547,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Mycio Wealth Partners LLC raised its stake in Eversource Energy by 100.0% in the second quarter. Mycio Wealth Partners LLC now owns 1,770 shares of the company’s stock worth $106,000 after buying an additional 885 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Eversource Energy by 167.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,901 shares of the company’s stock worth $113,000 after buying an additional 1,189 shares in the last quarter. WFG Advisors LP raised its stake in Eversource Energy by 7.8% in the second quarter. WFG Advisors LP now owns 1,994 shares of the company’s stock worth $119,000 after buying an additional 145 shares in the last quarter. Bellwether Investment Group LLC purchased a new stake in Eversource Energy during the second quarter worth $132,000. Finally, SevenBridge Financial Group LLC purchased a new stake in Eversource Energy during the second quarter worth $138,000. Institutional investors and hedge funds own 69.38% of the company’s stock.
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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