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

Key Points

• Eversource Energy has received a consensus recommendation of "Hold" from nine brokerages, with three analysts rating the stock as a buy, three as hold, and three as sell.
• Mizuho and Bank of America recently increased their target prices for Eversource Energy stock, raising them to $72.00 and $67.00, respectively.
• The company has declared a quarterly dividend of $0.7525 per share, representing an annualized dividend yield of 4.6% and a payout ratio of 129.18%.

Shares of Eversource Energy (NYSE:ES - Get Free Report) have earned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $64.3750.

Several research firms recently commented on ES. Mizuho increased their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Bank of America increased their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st.

Insiders Place Their Bets

In other news, insider Loretta D. Keane purchased 3,780 shares of the company's stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider directly owned 12,033 shares of the company's stock, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Eversource Energy by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider's stock valued at $2,904,422,000 after buying an additional 691,165 shares during the period. State Street Corp lifted its position in shares of Eversource Energy by 1.7% in the 2nd quarter. State Street Corp now owns 27,343,038 shares of the utilities provider's stock worth $1,739,564,000 after purchasing an additional 465,822 shares during the period. Wellington Management Group LLP lifted its position in shares of Eversource Energy by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock worth $1,068,901,000 after purchasing an additional 739,448 shares during the period. Geode Capital Management LLC lifted its position in shares of Eversource Energy by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider's stock worth $587,449,000 after purchasing an additional 211,962 shares during the period. Finally, Magellan Asset Management Ltd lifted its position in shares of Eversource Energy by 1.1% in the 2nd quarter. Magellan Asset Management Ltd now owns 6,952,127 shares of the utilities provider's stock worth $442,294,000 after purchasing an additional 75,784 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

ES stock opened at $65.56 on Tuesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $68.73. The firm's fifty day moving average is $65.17 and its 200 day moving average is $62.74. The firm has a market cap of $24.33 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.47 and a beta of 0.64.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm earned $0.95 EPS. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.7525 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.6%. Eversource Energy's dividend payout ratio is presently 129.18%.

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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