Eversource Energy (ES) Receives Average Recommendation of “Hold” from Analysts

Shares of Eversource Energy (NYSE:ES) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $64.50.

A number of analysts have issued reports on the company. Morgan Stanley raised Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price for the company in a research note on Wednesday, December 13th. Bank of America assumed coverage on Eversource Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 target price for the company. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Williams Capital raised their target price on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group raised their target price on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd.

Shares of Eversource Energy (NYSE:ES) traded down $0.24 during trading hours on Thursday, hitting $61.98. The stock had a trading volume of 1,579,164 shares, compared to its average volume of 1,447,243. Eversource Energy has a 52-week low of $54.08 and a 52-week high of $66.15. The stock has a market cap of $19,833.88, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 3.38 and a beta of 0.31. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. analysts forecast that Eversource Energy will post 3.14 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, December 15th. Eversource Energy’s dividend payout ratio (DPR) is 61.69%.

In other news, COO Werner J. Schweiger sold 10,098 shares of Eversource Energy stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $64.68, for a total value of $653,138.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Eversource Energy by 1.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,755 shares of the utilities provider’s stock worth $55,106,000 after acquiring an additional 10,934 shares in the last quarter. BB&T Securities LLC acquired a new position in Eversource Energy during the second quarter worth approximately $1,033,000. Teacher Retirement System of Texas acquired a new position in Eversource Energy during the second quarter worth approximately $200,000. Troy Asset Management Ltd increased its position in Eversource Energy by 14.4% during the third quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock worth $3,354,000 after buying an additional 7,000 shares during the period. Finally, Swiss National Bank increased its position in Eversource Energy by 3.0% during the second quarter. Swiss National Bank now owns 1,157,857 shares of the utilities provider’s stock worth $70,293,000 after buying an additional 33,900 shares during the period. 72.14% of the stock is currently owned by institutional investors and hedge funds.

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About Eversource Energy

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

Analyst Recommendations for Eversource Energy (NYSE:ES)

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