Eversource Energy (NYSE:ES) Receives Average Recommendation of "Hold" from Brokerages

Eversource Energy (NYSE:ES - Get Free Report) has earned an average rating of "Hold" from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $65.78.

A number of research analysts have recently commented on ES shares. Wells Fargo & Company dropped their price objective on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Barclays reduced their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Scotiabank dropped their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th.

Eversource Energy Stock Up 1.4%

Shares of Eversource Energy stock traded up $0.85 during trading hours on Wednesday, reaching $63.23. 2,129,339 shares of the company were exchanged, compared to its average volume of 2,413,793. The firm has a market cap of $23.23 billion, a PE ratio of 27.37, a PEG ratio of 2.35 and a beta of 0.61. The stock's fifty day moving average is $59.58 and its 200 day moving average is $59.85. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting analysts' consensus estimates of $1.50. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company's revenue was up 23.6% on a year-over-year basis. During the same period last year, the business earned $1.49 EPS. As a group, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date is Thursday, May 15th. Eversource Energy's payout ratio is currently 129.74%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. The trade was a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mizuho Bank Ltd. purchased a new position in shares of Eversource Energy in the 4th quarter worth about $26,000. Kestra Investment Management LLC purchased a new stake in shares of Eversource Energy during the fourth quarter worth about $29,000. Assetmark Inc. boosted its stake in shares of Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after buying an additional 254 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in Eversource Energy during the 4th quarter worth $33,000. Finally, Venturi Wealth Management LLC increased its holdings in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock valued at $34,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors 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.