Eversource Energy (NYSE:ES) Stock Has Average Target Price of $73.17 According to Analysts

Shares of Eversource Energy (NYSE:ES) have earned an average rating of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $73.17.

A number of research firms have issued reports on ES. Citigroup assumed coverage on shares of Eversource Energy in a research note on Monday, July 27th. They set a “hold” rating and a $81.00 target price for the company. Mizuho increased their price objective on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Barclays started coverage on Eversource Energy in a research report on Friday, November 6th. They issued an “equal weight” rating and a $76.00 target price on the stock. HSBC assumed coverage on Eversource Energy in a research note on Thursday, October 22nd. They set a “hold” rating and a $70.00 target price on the stock. Finally, BMO Capital Markets decreased their price target on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd.

Eversource Energy Stock Performance

ES traded up $0.62 on Friday, hitting $71.77. 2,920,434 shares of the company’s stock were exchanged, compared to its average volume of 3,308,738. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.58. The stock has a fifty day moving average of $67.34 and a two-hundred day moving average of $70.03. Eversource Energy has a twelve month low of $62.72 and a twelve month high of $76.57. The firm has a market cap of $27.06 billion, a PE ratio of 18.94, a P/E/G ratio of 3.09 and a beta of 0.66.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, November 4th. The utilities provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.20 billion. Eversource Energy had a return on equity of 10.67% and a net margin of 10.38%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 earnings per share. On average, research analysts anticipate that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, September 21st. Eversource Energy’s dividend payout ratio is currently 83.11%.

Institutional Trading of Eversource Energy

Several institutional investors have recently modified their holdings of the company. Man Group plc bought a new stake in shares of Eversource Energy during the 2nd quarter worth about $57,166,000. West Family Investments Inc. bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $702,000. Integrated Wealth Concepts LLC lifted its stake in Eversource Energy by 55.4% during the second quarter. Integrated Wealth Concepts LLC now owns 55,071 shares of the utilities provider’s stock worth $3,980,000 after purchasing an additional 19,628 shares during the period. Quantitative Investment Management LLC bought a new stake in shares of Eversource Energy in the 2nd quarter worth about $1,116,000. Finally, Signal Advisors Wealth LLC bought a new position in shares of Eversource Energy in the third quarter valued at approximately $1,219,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy is a public utility holding company that delivers electricity and natural gas to customers in New England. Its businesses include electric transmission and distribution, natural gas distribution, and related energy services. The company serves customers in Connecticut, Massachusetts, and New Hampshire through local utility subsidiaries. Its operations include maintaining and upgrading the networks used to deliver energy to homes and businesses. Eversource traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015 after combining with NSTAR.