BMO Capital Markets Raises Eversource Energy (NYSE:ES) Price Target to $66.00

Eversource Energy (NYSE:ES) had its target price boosted by BMO Capital Markets from $65.00 to $66.00 in a research report released on Friday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Several other research analysts also recently commented on the company. Mizuho raised Eversource Energy from a neutral rating to a buy rating and boosted their target price for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Argus cut their target price on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating on the stock in a research report on Monday, March 25th. Scotiabank cut their price objective on Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. Barclays reduced their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an equal weight rating on the stock in a research note on Monday, January 22nd. Finally, Wells Fargo & Company raised their target price on Eversource Energy from $67.00 to $69.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of Hold and an average price target of $66.23.

Eversource Energy Stock Performance

ES opened at $60.01 on Friday. The stock has a fifty day moving average of $59.17 and a 200-day moving average of $58.14. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.97. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. On average, research analysts forecast that Eversource Energy will post 4.49 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 4.77%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Buying and Selling at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on 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 directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its stake in Eversource Energy by 2.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 251,935 shares of the utilities provider’s stock valued at $14,650,000 after acquiring an additional 6,309 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Eversource Energy by 10.6% during the third quarter. Stratos Wealth Partners LTD. now owns 10,236 shares of the utilities provider’s stock valued at $595,000 after purchasing an additional 984 shares in the last quarter. Independent Advisor Alliance grew its position in Eversource Energy by 4.6% in the 3rd quarter. Independent Advisor Alliance now owns 7,202 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 318 shares in the last quarter. NorthRock Partners LLC increased its stake in Eversource Energy by 7.8% in the 3rd quarter. NorthRock Partners LLC now owns 4,016 shares of the utilities provider’s stock valued at $234,000 after buying an additional 291 shares during the last quarter. Finally, Baker Ellis Asset Management LLC grew its position in Eversource Energy by 19.9% during the third quarter. Baker Ellis Asset Management LLC now owns 11,797 shares of the utilities provider’s stock valued at $686,000 after buying an additional 1,957 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.