Brokerages Set Eversource Energy (NYSE:ES) Price Target at $70.07

Eversource Energy (NYSE:ES) has earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $70.07.

Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. BMO Capital Markets dropped their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Mizuho boosted their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The trade was a 0.00 % decrease in their position. 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

Several institutional investors have recently bought and sold shares of ES. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Eversource Energy by 24.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock worth $4,232,000 after purchasing an additional 13,950 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Eversource Energy by 6.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock worth $38,631,000 after purchasing an additional 37,219 shares in the last quarter. Sei Investments Co. raised its stake in shares of Eversource Energy by 62.9% during the 1st quarter. Sei Investments Co. now owns 460,399 shares of the utilities provider’s stock worth $27,518,000 after purchasing an additional 177,692 shares in the last quarter. Bensler LLC bought a new stake in shares of Eversource Energy during the 2nd quarter worth approximately $316,000. Finally, M&G Plc raised its stake in shares of Eversource Energy by 16.8% during the 2nd quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock worth $92,721,000 after purchasing an additional 234,361 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Eversource Energy stock opened at $65.49 on Friday. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of -242.56, a P/E/G ratio of 2.56 and a beta of 0.61. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The stock has a 50-day simple moving average of $66.51 and a 200 day simple moving average of $62.66.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. On average, research analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.37%. Eversource Energy’s dividend payout ratio is presently -1,059.26%.

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.