Eversource Energy (ES) Trading Down 0.4%
Eversource Energy (NYSE:ES) dropped 0.4% during trading on Friday . The stock traded as low as $58.48 and last traded at $59.10, with a volume of 870,153 shares. The stock had previously closed at $59.35.
ES has been the subject of several research reports. Zacks Investment Research upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Janney Montgomery Scott downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, March 31st. They noted that the move was a valuation call. Argus reiterated a “buy” rating on shares of Eversource Energy in a research note on Thursday, May 12th. Deutsche Bank AG restated a “hold” rating and set a $59.00 target price on shares of Eversource Energy in a research report on Tuesday, April 19th. Finally, Barclays PLC boosted their target price on shares of Eversource Energy from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Eversource Energy presently has a consensus rating of “Hold” and an average target price of $57.87.
The firm’s 50-day moving average price is $56.90 and its 200-day moving average price is $55.53. The stock has a market capitalization of $18.90 billion and a P/E ratio of 21.82.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.07. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.29 billion. The company’s revenue was down 18.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. Equities analysts expect that Eversource Energy will post $2.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, May 26th.
Other hedge funds and institutional investors recently bought and sold shares of the company. Shell Asset Management Co. bought a new position in Eversource Energy during the fourth quarter worth approximately $2,284,000. New York State Common Retirement Fund increased its position in Eversource Energy by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 737,600 shares of the company’s stock worth $37,669,000 after buying an additional 3,300 shares during the period. Quantitative Investment Management LLC bought a new position in Eversource Energy during the fourth quarter worth approximately $1,802,000. Advantus Capital Management Inc increased its position in Eversource Energy by 2.2% in the fourth quarter. Advantus Capital Management Inc now owns 30,283 shares of the company’s stock worth $1,547,000 after buying an additional 651 shares during the period. Finally, LS Investment Advisors LLC increased its position in Eversource Energy by 57.2% in the fourth quarter. LS Investment Advisors LLC now owns 38,994 shares of the company’s stock worth $1,991,000 after buying an additional 14,192 shares during the period.
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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