Eversource Energy (NYSE:ES) has earned a consensus rating of “Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $63.60.
A number of research firms have issued reports on ES. Morgan Stanley set a $66.00 target price on shares of Eversource Energy and gave the company a “hold” rating in a research note on Thursday, October 11th. Citigroup lifted their target price on shares of Eversource Energy from $59.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, September 25th. Wells Fargo & Co lifted their target price on shares of Eversource Energy from $67.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, September 17th. Scotiabank began coverage on shares of Eversource Energy in a research note on Tuesday, September 4th. They issued a “sector perform” rating for the company. Finally, Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $59.00 target price for the company in a research note on Friday, August 3rd.
NYSE ES traded up $0.53 during trading on Wednesday, reaching $62.49. The company’s stock had a trading volume of 1,930,500 shares, compared to its average volume of 1,987,411. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $19.47 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 3.18 and a beta of 0.24. Eversource Energy has a 1-year low of $52.76 and a 1-year high of $66.15.
Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, July 31st. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Eversource Energy had a net margin of 12.59% and a return on equity of 9.07%. As a group, equities analysts anticipate that Eversource Energy will post 3.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 21st were paid a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, September 20th. Eversource Energy’s payout ratio is 64.95%.
In other news, EVP Leon J. Olivier sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $62.03, for a total value of $3,101,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of ES. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Eversource Energy in the second quarter worth $268,926,000. Bank of New York Mellon Corp raised its stake in Eversource Energy by 14.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,651,624 shares of the utilities provider’s stock valued at $858,731,000 after purchasing an additional 1,803,735 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Eversource Energy by 9,315.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,270,856 shares of the utilities provider’s stock valued at $955,000 after purchasing an additional 1,257,359 shares during the last quarter. Millennium Management LLC acquired a new position in Eversource Energy during the 2nd quarter valued at $61,134,000. Finally, Magellan Asset Management Ltd raised its stake in Eversource Energy by 63.4% during the 2nd quarter. Magellan Asset Management Ltd now owns 2,480,436 shares of the utilities provider’s stock valued at $145,378,000 after purchasing an additional 962,538 shares during the last quarter. Institutional investors and hedge funds own 73.35% of the company’s stock.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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