Morgan Stanley Raises Eversource Energy (NYSE:ES) Price Target to $90.00

Eversource Energy (NYSE:ESGet Rating) had its target price lifted by Morgan Stanley from $89.00 to $90.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Several other analysts have also recently weighed in on ES. Wells Fargo & Company raised their price target on Eversource Energy to $99.00 in a report on Wednesday, December 14th. Evercore ISI boosted their price target on shares of Eversource Energy to $86.00 in a research note on Friday, December 2nd. Guggenheim lowered their price objective on shares of Eversource Energy from $97.00 to $82.00 in a research report on Monday, October 24th. StockNews.com started coverage on shares of Eversource Energy in a research report on Wednesday, October 12th. They issued a hold rating for the company. Finally, UBS Group raised their price target on Eversource Energy from $77.00 to $83.00 and gave the company a neutral rating in a research report on Thursday, December 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $88.90.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $79.89 on Monday. The company has a 50 day moving average of $83.17 and a 200 day moving average of $83.75. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.30. The stock has a market cap of $27.83 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.80 and a beta of 0.46. Eversource Energy has a 12 month low of $70.54 and a 12 month high of $94.63.

Eversource Energy (NYSE:ESGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The utilities provider reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). Eversource Energy had a net margin of 11.85% and a return on equity of 9.45%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $2.72 billion. As a group, sell-side analysts forecast that Eversource Energy will post 4.1 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were paid a dividend of $0.6375 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 3.19%. Eversource Energy’s dividend payout ratio (DPR) is currently 63.59%.

Insider Transactions at Eversource Energy

In related news, insider Faasen William C. Van sold 1,943 shares of the stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $81.08, for a total transaction of $157,538.44. Following the completion of the sale, the insider now directly owns 18,841 shares in the company, valued at approximately $1,527,628.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors L.P. boosted its holdings in shares of Eversource Energy by 5.2% during the second quarter. Natixis Advisors L.P. now owns 148,260 shares of the utilities provider’s stock worth $12,524,000 after purchasing an additional 7,297 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Eversource Energy by 0.7% during the third quarter. Janney Montgomery Scott LLC now owns 69,820 shares of the utilities provider’s stock valued at $5,443,000 after buying an additional 472 shares during the period. Clear Street Markets LLC raised its holdings in shares of Eversource Energy by 200.0% during the second quarter. Clear Street Markets LLC now owns 723 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 482 shares in the last quarter. Sawtooth Solutions LLC raised its holdings in shares of Eversource Energy by 32.0% during the second quarter. Sawtooth Solutions LLC now owns 4,060 shares of the utilities provider’s stock valued at $343,000 after acquiring an additional 984 shares in the last quarter. Finally, Charter Oak Capital Management LLC purchased a new stake in Eversource Energy in the second quarter worth $175,000. Hedge funds and other institutional investors own 77.37% of the company’s stock.

About Eversource Energy

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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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