Eversource Energy (ES) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $71.00 target price on the utilities provider’s stock.

According to Zacks, “Shares of Eversource Energy returned higher than the industry in last 12 months. Eversource Energy‘s systematic investments in renewable energy generation, primarily in transmission and distribution systems will help it to provide reliable services to its customers.  Margins of the company will improve if the company continues to reduce operating costs. Moreover, its regulated investment plans will help it to boost earnings per share by 5–7% over the 2017–2020 time frame from the 2016 level of $2.96. However, the company's decision to withdraw its Access Northeast Pipeline plan due to regulatory uncertainty, will have an adverse impact on its growth prospects.  Moreover, it faces challenges due to severe weather conditions.”

A number of other research analysts also recently issued reports on the stock. Morgan Stanley upgraded shares of Eversource Energy from an equal weight rating to an overweight rating and set a $72.00 target price on the stock in a research report on Wednesday, December 13th. Bank of America assumed coverage on shares of Eversource Energy in a research report on Tuesday, October 24th. They set an underperform rating and a $62.00 target price on the stock. Williams Capital upped their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company a buy rating in a research report on Monday, October 23rd. Finally, Credit Suisse Group upped their target price on shares of Eversource Energy from $60.00 to $63.00 and gave the company a neutral rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $65.15.

Shares of Eversource Energy (ES) traded down $0.88 during trading hours on Tuesday, reaching $61.71. 2,300,300 shares of the company’s stock were exchanged, compared to its average volume of 2,952,000. Eversource Energy has a 12-month low of $54.08 and a 12-month high of $66.15. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The company has a market cap of $19,833.88, a price-to-earnings ratio of 20.04, a P/E/G ratio of 3.18 and a beta of 0.31.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. analysts expect that Eversource Energy will post 3.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $1.90 dividend on an annualized basis and a yield of 3.08%. Eversource Energy’s payout ratio is presently 61.69%.

In related news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Advisory Services Network LLC increased its stake in Eversource Energy by 1.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 32 shares in the last quarter. Atlantic Trust Group LLC increased its stake in Eversource Energy by 0.3% during the 2nd quarter. Atlantic Trust Group LLC now owns 27,142 shares of the utilities provider’s stock worth $1,649,000 after purchasing an additional 68 shares in the last quarter. MML Investors Services LLC increased its stake in Eversource Energy by 0.5% during the 2nd quarter. MML Investors Services LLC now owns 14,104 shares of the utilities provider’s stock worth $856,000 after purchasing an additional 73 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Eversource Energy by 1.0% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 19,293 shares of the utilities provider’s stock worth $1,171,000 after purchasing an additional 197 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Eversource Energy by 0.5% during the 2nd quarter. Nordea Investment Management AB now owns 60,891 shares of the utilities provider’s stock worth $3,697,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2018/01/05/eversource-energy-es-lifted-to-buy-at-zacks-investment-research.html.

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, Massachusetts, and New Hampshire and the regulated electric generation businesses.

Get a free copy of the Zacks research report on Eversource Energy (ES)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply