Eversource Energy (NYSE:ES) Price Target Increased to $72.00 by Analysts at Barclays

Eversource Energy (NYSE:ES) had its price target upped by Barclays from $69.00 to $72.00 in a research note published on Tuesday, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other analysts also recently issued reports on ES. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Morgan Stanley raised their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Bank of America lifted their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Performance

Shares of ES stock opened at $65.00 on Tuesday. The company’s fifty day simple moving average is $66.42 and its 200-day simple moving average is $62.19. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The company has a market cap of $22.90 billion, a PE ratio of -55.08, a P/E/G ratio of 2.47 and a beta of 0.61.

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

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.40%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is currently -242.37%.

Insiders Place Their Bets

In other 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 sale, 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 legal filing 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 Eversource Energy stock in a transaction on Tuesday, August 13th. The shares were 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 owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after acquiring an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Eversource Energy by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after buying an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares in the last quarter. ClearBridge Investments Ltd bought a new stake in shares of Eversource Energy during the first quarter valued at about $156,093,000. Finally, Zimmer Partners LP increased its stake in Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after buying an additional 2,231,585 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Company Profile

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.