Eversource Energy (ES) Price Target Raised to $71.00 at Wells Fargo & Co
Eversource Energy (NYSE:ES) had its price objective hoisted by Wells Fargo & Co from $67.00 to $71.00 in a research note published on Monday morning. The brokerage currently has an outperform rating on the utilities provider’s stock.
Several other research firms also recently commented on ES. Morgan Stanley upped their price objective on shares of Eversource Energy from $63.00 to $67.00 and gave the company a hold rating in a report on Tuesday, September 11th. Scotiabank initiated coverage on shares of Eversource Energy in a research note on Tuesday, September 4th. They issued a sector perform rating for the company. Bank of America upgraded shares of Eversource Energy from an underperform rating to a neutral rating and set a $59.00 target price for the company in a research note on Friday, August 3rd. Credit Suisse Group upgraded shares of Eversource Energy from an underperform rating to a neutral rating and boosted their target price for the company from $58.00 to $62.00 in a research note on Monday, July 9th. Finally, Zacks Investment Research upgraded shares of Eversource Energy from a hold rating to a buy rating and set a $66.00 target price for the company in a research note on Tuesday, July 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $63.30.
ES stock opened at $63.77 on Monday. The firm has a market capitalization of $20.13 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 3.29 and a beta of 0.23. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 1.07. Eversource Energy has a 12 month low of $52.76 and a 12 month high of $66.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 21st will be paid a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, September 20th. Eversource Energy’s dividend payout ratio is currently 64.95%.
In related news, EVP Leon J. Olivier sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $62.03, for a total value of $3,101,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.45% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Eversource Energy by 2.6% during the second quarter. BlackRock Inc. now owns 26,905,620 shares of the utilities provider’s stock worth $1,576,935,000 after acquiring an additional 673,138 shares during the period. Bank of New York Mellon Corp raised its position in Eversource Energy by 14.0% during the second quarter. Bank of New York Mellon Corp now owns 14,651,624 shares of the utilities provider’s stock worth $858,731,000 after acquiring an additional 1,803,735 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in Eversource Energy during the second quarter worth $268,926,000. American Century Companies Inc. raised its position in Eversource Energy by 5.8% during the second quarter. American Century Companies Inc. now owns 3,344,553 shares of the utilities provider’s stock worth $196,024,000 after acquiring an additional 184,224 shares during the period. Finally, Legal & General Group Plc raised its position in Eversource Energy by 3.8% during the second quarter. Legal & General Group Plc now owns 3,089,588 shares of the utilities provider’s stock worth $181,037,000 after acquiring an additional 113,992 shares during the period. Institutional investors own 73.35% of the company’s stock.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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