Eversource Energy (ES) Given New $61.00 Price Target at Barclays PLC
Several other research firms also recently weighed in on ES. 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 price target (down from $59.00) on shares of Eversource Energy in a report on Monday, June 27th. Citigroup Inc. increased their price target on Eversource Energy from $53.00 to $61.00 and gave the stock a neutral rating in a report on Wednesday, July 20th. Finally, Janney Montgomery Scott raised Eversource Energy from a neutral rating to a buy rating and set a $67.00 price target for the company in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $59.71.
Shares of Eversource Energy (NYSE:ES) traded down 0.51% during midday trading on Tuesday, reaching $52.34. 740,047 shares of the company traded hands. Eversource Energy has a 1-year low of $48.18 and a 1-year high of $60.44. The stock’s 50-day moving average is $54.72 and its 200-day moving average is $56.53. The stock has a market capitalization of $16.60 billion, a P/E ratio of 19.24 and a beta of 0.29.
Eversource Energy (NYSE:ES) last posted 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%. Eversource Energy’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. Equities analysts predict that Eversource Energy will post $2.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, September 15th. Eversource Energy’s dividend payout ratio is currently 65.44%.
In other news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total value of $547,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Mycio Wealth Partners LLC boosted its stake in Eversource Energy by 100.0% in the second quarter. Mycio Wealth Partners LLC now owns 1,770 shares of the company’s stock worth $106,000 after buying an additional 885 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in 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. WFG Advisors LP boosted its stake in Eversource Energy by 7.8% in the second quarter. WFG Advisors LP now owns 1,994 shares of the company’s stock worth $119,000 after buying an additional 145 shares in the last quarter. Bellwether Investment Group LLC bought a new stake in Eversource Energy during the second quarter worth approximately $132,000. Finally, SevenBridge Financial Group LLC bought a new stake in Eversource Energy during the second quarter worth approximately $138,000. Hedge funds and other institutional investors own 69.38% of the company’s stock.
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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