Eversource Energy (NYSE:ES – Free Report) had its price objective hoisted by Morgan Stanley from $64.00 to $70.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.
A number of other brokerages have also recently issued reports on ES. Wells Fargo & Company raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Scotiabank decreased their price target on shares of Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets lifted their price objective on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a market perform rating in a research report on Friday, May 3rd. UBS Group raised shares of Eversource Energy from a neutral rating to a buy rating and lifted their target price for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, Argus decreased their target price on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating for the company in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $66.07.
Check Out Our Latest Research Report on ES
Eversource Energy Price Performance
Shares of NYSE:ES opened at $56.80 on Tuesday. The business’s fifty day moving average price is $59.55 and its two-hundred day moving average price is $58.84. The stock has a market cap of $20.01 billion, a PE ratio of -48.14, a price-to-earnings-growth ratio of 2.35 and a beta of 0.57. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. Eversource Energy has a one year low of $52.03 and a one year high of $74.81.
Eversource Energy (NYSE:ES – Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. On average, analysts forecast that Eversource Energy will post 4.53 EPS for the current fiscal year.
Eversource Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.04%. Eversource Energy’s payout ratio is -242.37%.
Insider Buying and Selling
In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.
Institutional Trading of Eversource Energy
Several hedge funds and other institutional investors have recently modified their holdings of ES. Heritage Wealth Advisors bought a new stake in Eversource Energy in the 4th quarter valued at about $25,000. Exchange Traded Concepts LLC acquired a new position in Eversource Energy in the 4th quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in Eversource Energy in the 1st quarter valued at approximately $27,000. Bfsg LLC acquired a new position in Eversource Energy in the 4th quarter valued at approximately $31,000. Finally, Versant Capital Management Inc increased its position in Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 201 shares during the period. Institutional investors own 79.99% of the company’s stock.
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.
Further Reading
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Source: defenseworld.net
