Brokerages Set Eversource Energy (NYSE:ES) Target Price at $66.23

Shares of Eversource Energy (NYSE:ES) have been assigned an average recommendation of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $66.23.

ES has been the topic of several research reports. Barclays dropped their price target on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, January 22nd. Scotiabank cut their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Citigroup lifted their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $60.00 to $72.00 in a report on Monday, January 22nd. Finally, Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th.

Insider Buying and Selling at Eversource Energy

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

Institutional Investors Weigh In On Eversource Energy

Large investors have recently bought and sold shares of the business. Heritage Wealth Advisors acquired a new position in shares of Eversource Energy during the 4th quarter valued at about $25,000. Exchange Traded Concepts LLC bought a new position in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy in the first quarter worth $27,000. Bfsg LLC bought a new stake in shares of Eversource Energy during the 4th quarter worth $31,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Down 0.5 %

Shares of NYSE:ES opened at $59.71 on Friday. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $77.92. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The firm has a market cap of $20.94 billion, a P/E ratio of -50.60, a P/E/G ratio of 3.21 and a beta of 0.57. The company has a 50 day moving average of $59.21 and a 200-day moving average of $58.18.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.69 billion. During the same period last year, the company posted $1.41 EPS. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, analysts anticipate that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared 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. This represents a $2.86 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio is currently -242.37%.

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.