Eversource Energy (ES) Receives Consensus Rating of “Hold” from Analysts

Eversource Energy (NYSE:ES) has been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $62.83.

Several equities analysts have commented on ES shares. Morgan Stanley upgraded shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 price target for the company in a research note on Wednesday, December 13th. Zacks Investment Research upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, January 2nd. Williams Capital boosted their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group downgraded shares of Eversource Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $63.00 to $59.00 in a research note on Tuesday, January 23rd. They noted that the move was a valuation call.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Eversource Energy by 2.4% during the 4th quarter. BlackRock Inc. now owns 25,200,721 shares of the utilities provider’s stock worth $1,592,179,000 after purchasing an additional 589,876 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Eversource Energy by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 15,936,793 shares of the utilities provider’s stock valued at $963,220,000 after acquiring an additional 516,965 shares during the last quarter. Wells Fargo & Company MN lifted its position in Eversource Energy by 4.3% in the fourth quarter. Wells Fargo & Company MN now owns 6,823,570 shares of the utilities provider’s stock valued at $431,113,000 after acquiring an additional 283,943 shares during the last quarter. Legal & General Group Plc lifted its position in Eversource Energy by 5.4% in the third quarter. Legal & General Group Plc now owns 2,801,473 shares of the utilities provider’s stock valued at $169,322,000 after acquiring an additional 144,185 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Eversource Energy by 14.4% in the third quarter. American Century Companies Inc. now owns 2,653,302 shares of the utilities provider’s stock valued at $160,366,000 after acquiring an additional 333,139 shares during the last quarter. 71.76% of the stock is owned by institutional investors and hedge funds.

Eversource Energy (ES) traded up $0.91 during trading hours on Friday, hitting $57.02. 2,749,817 shares of the company’s stock traded hands, compared to its average volume of 3,181,622. The firm has a market capitalization of $18,070.00, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.85 and a beta of 0.27. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Eversource Energy has a fifty-two week low of $55.20 and a fifty-two week high of $66.15.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 6th will be given a dividend of $0.505 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.48. This represents a $2.02 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, March 5th. Eversource Energy’s payout ratio is 61.69%.

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Eversource Energy Company Profile

Eversource Energy 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, Massachusetts, and New Hampshire and the regulated electric generation businesses.

Analyst Recommendations for Eversource Energy (NYSE:ES)

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