Eversource Energy (NYSE:ES) has earned a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $89.94.
A number of research firms have recently issued reports on ES. Morgan Stanley dropped their price objective on shares of Eversource Energy from $83.00 to $75.00 and set an “underweight” rating on the stock in a research note on Friday, May 15th. Barclays dropped their price objective on shares of Eversource Energy from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Friday, May 22nd. Evercore ISI upgraded shares of Eversource Energy from an “underperform” rating to an “in-line” rating and dropped their price objective for the company from $93.00 to $91.00 in a research note on Monday, April 20th. UBS Group raised their target price on shares of Eversource Energy from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Finally, Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Tuesday, May 12th.
Several institutional investors have recently modified their holdings of the stock. First Mercantile Trust Co. increased its holdings in Eversource Energy by 6.7% in the fourth quarter. First Mercantile Trust Co. now owns 1,978 shares of the utilities provider’s stock valued at $168,000 after buying an additional 124 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Eversource Energy during the fourth quarter worth about $5,336,000. Virtu Financial LLC acquired a new position in Eversource Energy during the fourth quarter worth about $456,000. CAPROCK Group Inc. boosted its holdings in Eversource Energy by 6.4% in the 4th quarter. CAPROCK Group Inc. now owns 3,142 shares of the utilities provider’s stock valued at $267,000 after purchasing an additional 189 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in Eversource Energy in the 4th quarter valued at about $487,000. 78.18% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. Eversource Energy had a net margin of 11.02% and a return on equity of 9.16%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the firm earned $0.97 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts predict that Eversource Energy will post 3.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.5675 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.27 annualized dividend and a dividend yield of 2.69%. Eversource Energy’s payout ratio is currently 65.80%.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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