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

Shares of Eversource Energy (NYSE:ES) have earned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $65.86.

ES has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. The Goldman Sachs Group assumed coverage on Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price on the stock. StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective on the stock in a research note on Tuesday, June 25th. Finally, UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th.

Eversource Energy Stock Down 0.8 %

ES stock opened at $56.71 on Friday. The firm has a 50 day moving average of $59.35 and a two-hundred day moving average of $58.72. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $74.81. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $1.41 earnings per share. The business’s revenue was down 12.2% compared to the same quarter last year. On average, sell-side analysts predict that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.04%. Eversource Energy’s payout ratio is presently -242.37%.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the sale, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ES. Pathway Financial Advisers LLC acquired a new stake in Eversource Energy in the 1st quarter valued at about $43,000. Cetera Advisors LLC increased its holdings in shares of Eversource Energy by 60.7% in the first quarter. Cetera Advisors LLC now owns 29,748 shares of the utilities provider’s stock valued at $1,778,000 after purchasing an additional 11,233 shares in the last quarter. Cetera Investment Advisers raised its position in Eversource Energy by 283.2% in the 1st quarter. Cetera Investment Advisers now owns 91,062 shares of the utilities provider’s stock worth $5,443,000 after purchasing an additional 67,300 shares during the last quarter. Burney Co. lifted its holdings in Eversource Energy by 9.2% during the 1st quarter. Burney Co. now owns 33,328 shares of the utilities provider’s stock worth $1,992,000 after buying an additional 2,807 shares in the last quarter. Finally, Swedbank AB bought a new position in Eversource Energy in the 1st quarter valued at $31,928,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

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.