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

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

ES has been the subject of a number of recent analyst reports. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. BMO Capital Markets raised their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Scotiabank lowered their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price objective on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th.

Eversource Energy Stock Down 0.6%

Shares of NYSE:ES traded down $0.37 on Friday, reaching $65.52. The company had a trading volume of 1,393,665 shares, compared to its average volume of 2,454,647. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The firm's 50 day simple moving average is $60.75 and its 200-day simple moving average is $60.10. The firm has a market capitalization of $24.07 billion, a PE ratio of 28.36, a PEG ratio of 2.35 and a beta of 0.63. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

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

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.59%. Eversource Energy's payout ratio is presently 129.74%.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the transaction, the executive vice president now owns 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their position. The sale 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Mizuho Bank Ltd. acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $26,000. Kestra Investment Management LLC acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $29,000. Assetmark Inc. lifted its holdings in shares of Eversource Energy by 99.2% in 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 period. Pinney & Scofield Inc. acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $33,000. Finally, Venturi Wealth Management LLC raised its holdings in Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after purchasing an additional 301 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.