Eversource Energy (NYSE:ES) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Eversource Energy (NYSE:ES) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued an underperform rating and a $52.00 price objective on the utilities provider’s stock.

Several other research firms also recently weighed in on ES. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. BMO Capital Markets dropped their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Scotiabank increased their price target on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley boosted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Barclays raised their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $69.15.

Eversource Energy Trading Down 3.7 %

Eversource Energy stock opened at $61.29 on Tuesday. The firm has a 50-day moving average price of $64.17 and a two-hundred day moving average price of $63.05. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The firm has a market capitalization of $22.46 billion, a price-to-earnings ratio of -39.04, a PEG ratio of 2.55 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. Sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.67%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Hedge Funds Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Eversource Energy by 1.7% in the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after purchasing an additional 430,587 shares during the period. Wellington Management Group LLP acquired a new position in Eversource Energy in the 3rd quarter valued at approximately $808,783,000. Geode Capital Management LLC lifted its position in Eversource Energy by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after buying an additional 268,588 shares in the last quarter. FMR LLC boosted its stake in shares of Eversource Energy by 2.7% during the 3rd quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after buying an additional 185,381 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Eversource Energy by 4.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after acquiring an additional 216,630 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

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.