Eversource Energy (NYSE:ES) Given Consensus Recommendation of "Hold" by Analysts

Eversource Energy (NYSE:ES - Get Free Report) has been given a consensus recommendation of "Hold" by the ten ratings firms that are presently covering the firm, Marketbeat 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 12 month price objective among brokerages that have covered the stock in the last year is $65.78.

Several brokerages have issued reports on ES. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Scotiabank cut their target price on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets upped their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Wells Fargo & Company dropped their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president now directly owns 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Eversource Energy

Hedge funds have recently bought and sold shares of the business. Mizuho Bank Ltd. bought a new stake in Eversource Energy during the fourth quarter valued at about $26,000. Kestra Investment Management LLC bought a new stake in Eversource Energy during the fourth quarter valued at about $29,000. Assetmark Inc. boosted its holdings in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 254 shares during the period. Pinney & Scofield Inc. bought a new stake in Eversource Energy during the fourth quarter valued at about $33,000. Finally, Venturi Wealth Management LLC boosted its holdings in Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 301 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $65.50 on Friday. The stock has a fifty day moving average of $60.61 and a 200-day moving average of $60.06. 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 has a one year low of $52.28 and a one year high of $69.01. The company has a market capitalization of $24.06 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63.

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

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.60%. The ex-dividend date is Thursday, May 15th. Eversource Energy's payout ratio is 129.74%.

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.

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