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

Eversource Energy (NYSE:ES - Get Free Report) has received an average recommendation of "Hold" from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $65.50.

Several brokerages recently issued reports on ES. UBS Group raised shares of Eversource Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. Argus reduced their target price on shares of Eversource Energy from $85.00 to $68.00 and set a "buy" rating for the company in a report on Monday, March 25th. BMO Capital Markets raised their target price on shares of Eversource Energy from $63.00 to $64.00 and gave the stock a "market perform" rating in a report on Thursday, February 15th. Barclays reduced their target price on shares of Eversource Energy from $66.00 to $61.00 and set an "equal weight" rating for the company in a report on Monday, January 22nd. Finally, Citigroup raised their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th.

Insider Activity

In other news, insider Faasen William C. Van sold 2,714 shares of Eversource Energy stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $54.50, for a total value of $147,913.00. Following the sale, the insider now owns 19,619 shares in the company, valued at $1,069,235.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Faasen William C. Van sold 2,714 shares of the business's stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $54.50, for a total transaction of $147,913.00. Following the transaction, the insider now directly owns 19,619 shares in the company, valued at $1,069,235.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. Insiders have sold a total of 6,250 shares of company stock worth $352,014 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eversource Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. American National Bank purchased a new position in Eversource Energy during the third quarter worth about $25,000. Heritage Wealth Advisors purchased a new position in Eversource Energy during the fourth quarter worth about $25,000. Quarry LP raised its stake in Eversource Energy by 275.0% during the first quarter. Quarry LP now owns 315 shares of the utilities provider's stock worth $25,000 after purchasing an additional 231 shares during the period. Exchange Traded Concepts LLC purchased a new position in Eversource Energy during the fourth quarter worth about $26,000. Finally, Rise Advisors LLC purchased a new position in Eversource Energy during the first quarter worth about $27,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

Shares of NYSE ES traded up $0.49 during midday trading on Tuesday, reaching $59.96. The company had a trading volume of 1,822,033 shares, compared to its average volume of 3,095,830. The business's 50-day simple moving average is $57.92 and its 200 day simple moving average is $57.79. The stock has a market cap of $21.03 billion, a P/E ratio of -47.59, a P/E/G ratio of 3.10 and a beta of 0.58. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $80.53. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.02). The company had revenue of $2.69 billion during the quarter, compared to analysts' expectations of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The company's quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. On average, analysts forecast that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were given a $0.715 dividend. This is a positive change from Eversource Energy's previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. This represents a $2.86 annualized dividend and a dividend yield of 4.77%. Eversource Energy's dividend payout ratio (DPR) is -226.98%.

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.