Barclays Cuts Eversource Energy (NYSE:ES) Price Target to $69.00

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

Several other brokerages have also recently weighed in on ES. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Mizuho raised their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price target for the stock from $66.00 to $56.00 in a research report on Thursday, December 12th. BMO Capital Markets decreased 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. Finally, Jefferies Financial Group assumed coverage on Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.83.

Eversource Energy Trading Up 0.1 %

Shares of NYSE:ES opened at $56.31 on Wednesday. The firm has a market cap of $20.63 billion, a price-to-earnings ratio of -35.87, a PEG ratio of 2.13 and a beta of 0.62. Eversource Energy has a 12 month low of $52.71 and a 12 month high of $69.01. The company’s fifty day simple moving average is $59.12 and its 200 day simple moving average is $62.87. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, research analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.86 annualized dividend and a dividend yield of 5.08%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds have recently added to or reduced their stakes in ES. State Street Corp raised its position in shares of Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after purchasing an additional 430,587 shares during the period. Wellington Management Group LLP acquired a new position in Eversource Energy in the 3rd quarter valued at about $808,783,000. Geode Capital Management LLC raised its holdings in Eversource Energy by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after acquiring an additional 268,588 shares during the period. FMR LLC lifted its position in Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after acquiring an additional 185,381 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Eversource Energy by 4.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock worth $337,270,000 after acquiring an additional 216,630 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

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.