Eversource Energy (NYSE:ES) Price Target Lowered to $57.00 at Scotiabank

Eversource Energy (NYSE:ES) had its price target trimmed by Scotiabank from $61.00 to $57.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has a sector perform rating on the utilities provider’s stock.

Several other analysts have also commented on ES. Citigroup increased their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a neutral rating in a report on Thursday, February 15th. StockNews.com raised Eversource Energy to a sell rating in a research report on Thursday, March 28th. Guggenheim raised Eversource Energy from a neutral rating to a buy rating and upped their target price for the company from $60.00 to $72.00 in a research report on Monday, January 22nd. Wells Fargo & Company upped their target price on Eversource Energy from $67.00 to $69.00 and gave the company an overweight rating in a research report on Tuesday, January 9th. Finally, Argus cut their target price on Eversource Energy from $85.00 to $68.00 and set a buy rating on the stock in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $65.85.

Eversource Energy Stock Performance

Shares of ES opened at $60.30 on Monday. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92. The stock has a fifty day moving average price of $58.69 and a 200-day moving average price of $57.87. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The firm has a market cap of $21.15 billion, a PE ratio of -47.86, a P/E/G ratio of 3.17 and a beta of 0.58.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities research analysts predict that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.715 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is currently -226.98%.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Eversource Energy

Hedge funds have recently modified their holdings of the company. Heritage Wealth Advisors purchased a new stake in shares of Eversource Energy during the 4th quarter worth about $25,000. Exchange Traded Concepts LLC purchased a new position in Eversource Energy in the 4th quarter valued at about $26,000. Rise Advisors LLC purchased a new position in Eversource Energy in the 1st quarter valued at about $27,000. Bfsg LLC purchased a new position in Eversource Energy in the 4th quarter valued at about $31,000. Finally, Versant Capital Management Inc lifted its stake in Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after buying an additional 201 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.