Eversource Energy (ES) Given New $54.00 Price Target at Citigroup Inc.
ES has been the subject of several other reports. Zacks Investment Research raised Eversource Energy from a sell rating to a hold rating in a report on Thursday, June 23rd. Williams Capital reaffirmed a buy rating on shares of Eversource Energy in a report on Friday, September 2nd. Deutsche Bank AG reaffirmed a hold rating and set a $58.00 target price (down from $59.00) on shares of Eversource Energy in a report on Monday, June 27th. Janney Montgomery Scott raised Eversource Energy from a neutral rating to a buy rating and set a $67.00 target price for the company in a report on Monday, August 1st. Finally, Barclays PLC upped their target price on Eversource Energy from $62.00 to $65.00 and gave the company an equal weight rating in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $59.71.
Shares of Eversource Energy (NYSE:ES) opened at 52.61 on Tuesday. The stock has a market cap of $16.69 billion, a PE ratio of 19.34 and a beta of 0.29. Eversource Energy has a 12-month low of $48.18 and a 12-month high of $60.44. The firm has a 50-day moving average price of $54.72 and a 200 day moving average price of $56.53.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm earned $1.77 billion during the quarter, compared to analyst estimates of $1.81 billion. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. Equities research analysts predict that Eversource Energy will post $2.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.38%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s payout ratio is currently 65.44%.
In other news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.89% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Eversource Energy during the second quarter worth approximately $767,000. Kentucky Retirement Systems bought a new position in shares of Eversource Energy during the second quarter worth approximately $1,616,000. Mason Street Advisors LLC bought a new position in shares of Eversource Energy during the second quarter worth approximately $2,559,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Eversource Energy by 167.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,901 shares of the company’s stock worth $113,000 after buying an additional 1,189 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Eversource Energy by 3.4% in the second quarter. Royal Bank of Canada now owns 2,242,042 shares of the company’s stock worth $134,299,000 after buying an additional 73,421 shares in the last quarter. 69.38% of the stock is currently owned by institutional investors and hedge funds.
Eversource Energy Company Profile
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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