Eversource Energy (NYSE:ES) Price Target Lowered to $72.00 at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective reduced by BMO Capital Markets from $74.00 to $72.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Several other analysts have also weighed in on the company. Wells Fargo & Company boosted their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an overweight rating in a report on Friday, August 2nd. StockNews.com lowered Eversource Energy from a hold rating to a sell rating in a report on Saturday, July 27th. Morgan Stanley boosted their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an equal weight rating in a report on Friday, August 23rd. Barclays boosted their price objective on Eversource Energy from $65.00 to $69.00 and gave the company an equal weight rating in a report on Monday, July 22nd. Finally, Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the company a neutral rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $70.07.

Eversource Energy Stock Up 2.2 %

Shares of NYSE ES opened at $65.40 on Tuesday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of -55.42, a PEG ratio of 2.47 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The stock’s 50-day simple moving average is $66.41 and its 200-day simple moving average is $62.15.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. As a group, equities analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.37%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Swedbank AB lifted its position in shares of Eversource Energy by 2.2% during the 3rd quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock valued at $35,684,000 after acquiring an additional 11,111 shares during the last quarter. Creative Planning lifted its position in shares of Eversource Energy by 6.7% during the 3rd quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock valued at $5,863,000 after acquiring an additional 5,417 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Eversource Energy during the 3rd quarter valued at $100,000. Woodstock Corp acquired a new stake in shares of Eversource Energy during the 3rd quarter valued at $203,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of Eversource Energy during the 3rd quarter valued at $228,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.