Eversource Energy (NYSE:ES) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Eversource Energy (NYSE:ES) has received a consensus rating of "Hold" from analysts, with varied ratings that include three sell, four hold, and three buy recommendations.
• The company's recent quarterly earnings report showed a net margin of 6.60% and an earnings per share of $0.96, slightly beating consensus estimates.
• Eversource has declared a quarterly dividend of $0.7525, which translates to an annual yield of 4.2%, although its dividend payout ratio stands at a high 129.18%.

Shares of Eversource Energy (NYSE:ES - Get Free Report) have been given an average recommendation of "Hold" by the ten brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $64.3750.

ES has been the subject of several recent analyst reports. Bank of America raised their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday. Finally, Mizuho lifted their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th.

Insider Buying and Selling

In other news, insider Loretta D. Keane purchased 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares of the company's stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds have recently bought and sold shares of ES. Vanguard Group Inc. boosted its stake in Eversource Energy by 1.5% in the second quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider's stock valued at $2,904,422,000 after acquiring an additional 691,165 shares during the period. State Street Corp boosted its stake in Eversource Energy by 1.7% in the second quarter. State Street Corp now owns 27,343,038 shares of the utilities provider's stock valued at $1,739,564,000 after acquiring an additional 465,822 shares during the period. Wellington Management Group LLP boosted its stake in Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock valued at $1,068,901,000 after acquiring an additional 739,448 shares during the period. Geode Capital Management LLC boosted its stake in Eversource Energy by 2.3% in the second quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider's stock valued at $587,449,000 after acquiring an additional 211,962 shares during the period. Finally, Magellan Asset Management Ltd boosted its stake in Eversource Energy by 1.1% in the second quarter. Magellan Asset Management Ltd now owns 6,952,127 shares of the utilities provider's stock valued at $442,294,000 after acquiring an additional 75,784 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Down 0.1%

Shares of Eversource Energy stock opened at $72.31 on Friday. The business has a 50-day moving average of $66.69 and a 200-day moving average of $63.89. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The company has a market capitalization of $26.83 billion, a PE ratio of 31.03, a P/E/G ratio of 2.72 and a beta of 0.67. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $74.46.

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

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy's dividend payout ratio (DPR) is 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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