Eversource Energy (NYSE:ES) Given New $66.00 Price Target at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective lifted by BMO Capital Markets from $65.00 to $66.00 in a research report report published on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

Several other research firms have also commented on ES. Argus cut their price objective 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. Mizuho raised Eversource Energy from a neutral rating to a buy rating and raised their price objective for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. UBS Group raised Eversource Energy from a neutral rating to a buy rating and raised their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. Citigroup raised their target price on Eversource Energy from $58.00 to $62.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, StockNews.com raised Eversource Energy to a sell rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $66.23.

Eversource Energy Stock Down 0.5 %

Shares of ES opened at $59.71 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. The stock’s fifty day simple moving average is $59.21 and its 200 day simple moving average is $58.18. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $77.92.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. Equities research analysts expect that Eversource Energy will post 4.49 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.79%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s dividend payout ratio is currently -242.37%.

Insider Activity at Eversource Energy

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

Hedge Funds Weigh In On Eversource Energy

Several institutional investors have recently made changes to their positions in ES. Mystic Asset Management Inc. boosted its position in shares of Eversource Energy by 10.2% during the first quarter. Mystic Asset Management Inc. now owns 8,775 shares of the utilities provider’s stock worth $524,000 after buying an additional 814 shares during the period. SG Americas Securities LLC boosted its position in shares of Eversource Energy by 376.3% during the first quarter. SG Americas Securities LLC now owns 107,595 shares of the utilities provider’s stock worth $6,431,000 after buying an additional 85,007 shares during the period. AIA Group Ltd acquired a new position in shares of Eversource Energy during the first quarter worth approximately $661,000. Sciencast Management LP acquired a new position in shares of Eversource Energy during the first quarter worth approximately $276,000. Finally, Quantbot Technologies LP boosted its position in shares of Eversource Energy by 997.5% during the first quarter. Quantbot Technologies LP now owns 40,387 shares of the utilities provider’s stock worth $2,414,000 after buying an additional 36,707 shares during the period. 79.99% of the stock is owned by 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.