Shares of Eversource Energy (NYSE:ES) have received a consensus rating of “Hold” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $63.19.
A number of brokerages have issued reports on ES. Credit Suisse Group boosted their price target on Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Morgan Stanley boosted their price target on Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG downgraded Eversource Energy from a “buy” rating to a “hold” rating and boosted their price target for the company from $61.00 to $61.50 in a report on Monday, July 31st.
Hedge funds have recently made changes to their positions in the company. BB&T Securities LLC acquired a new position in shares of Eversource Energy during the 2nd quarter worth approximately $1,033,000. Teacher Retirement System of Texas acquired a new position in shares of Eversource Energy during the 2nd quarter worth approximately $200,000. Brookfield Asset Management Inc. acquired a new position in shares of Eversource Energy during the 1st quarter worth approximately $106,000. Lazard Asset Management LLC acquired a new position in shares of Eversource Energy during the 1st quarter worth approximately $9,867,000. Finally, KCG Holdings Inc. raised its stake in shares of Eversource Energy by 78.9% during the 1st quarter. KCG Holdings Inc. now owns 23,680 shares of the utilities provider’s stock worth $1,392,000 after buying an additional 10,443 shares during the period. 71.87% of the stock is owned by institutional investors and hedge funds.
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Shares of Eversource Energy (ES) traded up 0.60% during trading on Friday, hitting $61.67. 1,774,037 shares of the stock traded hands. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 19.96 and a beta of 0.28. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $64.19. The stock has a 50 day moving average of $61.94 and a 200 day moving average of $61.10.
Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Eversource Energy’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Eversource Energy will post $3.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, September 18th. Eversource Energy’s payout ratio is 61.49%.
Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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