Eversource Energy (ES) Price Target Lowered to $59.00 at Argus
Eversource Energy (NYSE:ES) had its price objective cut by analysts at Argus from $64.00 to $59.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the stock. Argus’ price objective points to a potential upside of 13.51% from the company’s current price.
A number of other analysts have also commented on the company. Williams Capital restated a “buy” rating on shares of Eversource Energy in a report on Friday, September 2nd. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Monday, August 1st. Barclays PLC cut their price target on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 4th. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, July 1st. Finally, Deutsche Bank AG restated a “hold” rating and issued a $58.00 price target (down from $59.00) on shares of Eversource Energy in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Eversource Energy presently has a consensus rating of “Hold” and an average price target of $59.29.
Shares of Eversource Energy (NYSE:ES) traded up 0.83% during midday trading on Wednesday, hitting $52.41. The stock had a trading volume of 300,326 shares. Eversource Energy has a one year low of $48.18 and a one year high of $60.44. The firm’s 50-day moving average price is $54.25 and its 200-day moving average price is $56.36. The firm has a market capitalization of $16.62 billion, a PE ratio of 19.27 and a beta of 0.29.
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Eversource Energy (NYSE:ES) last posted its 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 business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.81 billion. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities analysts predict that Eversource Energy will post $2.97 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s dividend payout ratio is currently 65.44%.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the business’s 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. 0.89% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Eversource Energy by 23.7% in the first quarter. Wellington Management Group LLP now owns 15,277,277 shares of the company’s stock worth $891,277,000 after buying an additional 2,927,198 shares during the period. State Street Corp increased its position in Eversource Energy by 7.8% in the first quarter. State Street Corp now owns 16,077,054 shares of the company’s stock valued at $937,936,000 after buying an additional 1,157,374 shares during the last quarter. American Century Companies Inc. purchased a new position in Eversource Energy during the second quarter valued at approximately $62,821,000. Cohen & Steers Inc. increased its position in Eversource Energy by 81.5% in the second quarter. Cohen & Steers Inc. now owns 2,220,976 shares of the company’s stock valued at $93,597,000 after buying an additional 997,331 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Eversource Energy by 211.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,460,239 shares of the company’s stock valued at $87,468,000 after buying an additional 991,300 shares during the last quarter. 69.38% of the stock is currently owned by hedge funds and other 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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