Eversource Energy (NYSE:ES) Given Average Rating of “Hold” by Brokerages

Eversource Energy (NYSE:ES) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $71.2727.

ES has been the subject of a number of research analyst reports. Scotiabank reduced their target price on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a report on Thursday, November 20th. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st.

Eversource Energy Price Performance

ES stock opened at $70.09 on Monday. The firm has a 50-day moving average of $68.07 and a two-hundred day moving average of $67.90. The firm has a market capitalization of $26.30 billion, a PE ratio of 19.20, a P/E/G ratio of 2.38 and a beta of 0.76. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. Eversource Energy has a one year low of $52.28 and a one year high of $75.25.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.3%. Eversource Energy’s dividend payout ratio (DPR) is 82.47%.

Insider Activity at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president directly owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Eversource Energy

A number of institutional investors have recently bought and sold shares of the company. Lodestone Wealth Management LLC acquired a new position in Eversource Energy in the 4th quarter worth about $25,000. Neo Ivy Capital Management bought a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC bought a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Eversource Energy during the third quarter valued at approximately $27,000. Finally, Trust Co. of Toledo NA OH bought a new position in Eversource Energy during the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.