Brokerages Set Eversource Energy (NYSE:ES) Target Price at $65.56

Key Points

• Eversource Energy has received a consensus rating of "Hold" from analysts, with three recommending to sell, four to hold, and three to buy the stock.
• The average 12-month price target for Eversource Energy is $65.56, with recent updates from analysts like Bank of America raising their target to $67.00.
• Insider activity includes the sale of 2,600 shares by EVP Penelope M. Conner, resulting in a 19.13% decrease in her holding of the company's stock.

Shares of Eversource Energy (NYSE:ES - Get Free Report) have been given a consensus recommendation of "Hold" by the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $65.56.

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America lifted their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. BMO Capital Markets boosted 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. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, Mizuho boosted their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy 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 transaction, the executive vice president owned 10,988 shares in the company, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ES. Mizuho Bank Ltd. bought a new position in shares of Eversource Energy during the 4th quarter worth about $26,000. Trust Co. of Toledo NA OH bought a new position in Eversource Energy in the 2nd quarter worth about $28,000. Hilltop National Bank purchased a new position in Eversource Energy in the second quarter worth $32,000. Pinney & Scofield Inc. bought a new position in Eversource Energy during the fourth quarter valued at approximately $33,000. Finally, Rossby Financial LCC bought a new stake in shares of Eversource Energy in the 1st quarter valued at about $34,000. Institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Performance

ES traded down $1.42 during trading on Monday, hitting $65.20. 1,695,081 shares of the stock were exchanged, compared to its average volume of 1,921,133. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The stock has a fifty day moving average price of $64.59 and a two-hundred day moving average price of $61.35. The firm has a market capitalization of $23.95 billion, a P/E ratio of 28.10, a PEG ratio of 2.49 and a beta of 0.62.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. Eversource Energy's revenue for the quarter was up 23.6% on a year-over-year basis. As a group, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Thursday, May 15th. Eversource Energy's payout ratio is presently 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.