Eversource Energy (NYSE:ES) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Eversource Energy (NYSE:ES – Get Rating) in a report issued on Thursday. The firm issued a hold rating on the utilities provider’s stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of Eversource Energy from $90.00 to $87.00 and set an equal weight rating for the company in a research note on Wednesday, February 22nd. Evercore ISI upgraded shares of Eversource Energy from an in-line rating to an outperform rating and lifted their target price for the company from $86.00 to $92.00 in a research note on Tuesday, January 24th. UBS Group lifted their target price on shares of Eversource Energy from $77.00 to $83.00 and gave the company a neutral rating in a research note on Thursday, December 1st. Citigroup reduced their target price on shares of Eversource Energy from $91.00 to $86.00 and set a neutral rating for the company in a research note on Thursday, February 16th. Finally, Wells Fargo & Company reduced their target price on shares of Eversource Energy from $99.00 to $94.00 and set an overweight rating for the company in a research note on Wednesday, February 15th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $89.00.

Eversource Energy Stock Performance

ES stock opened at $75.91 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.57 and a current ratio of 0.62. The stock has a market cap of $26.45 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.70 and a beta of 0.45. The firm has a 50 day simple moving average of $79.27 and a 200 day simple moving average of $80.92. Eversource Energy has a 52 week low of $70.54 and a 52 week high of $94.63.

Eversource Energy (NYSE:ES – Get Rating) last posted its quarterly earnings results on Monday, February 13th. The utilities provider reported $0.92 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.02). The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.24 billion. Eversource Energy had a return on equity of 9.38% and a net margin of 11.43%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. Research analysts anticipate that Eversource Energy will post 4.37 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Thursday, March 2nd will be given a dividend of $0.675 per share. The ex-dividend date is Wednesday, March 1st. This represents a $2.70 dividend on an annualized basis and a yield of 3.56%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.64. Eversource Energy’s payout ratio is 66.83%.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 1,943 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $78.83, for a total transaction of $153,166.69. Following the transaction, the insider now owns 20,763 shares of the company’s stock, valued at $1,636,747.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eversource Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mascoma Wealth Management LLC bought a new position in Eversource Energy during the fourth quarter worth $25,000. Delta Asset Management LLC TN bought a new stake in Eversource Energy in the 4th quarter valued at $25,000. Lakewood Asset Management LLC bought a new stake in Eversource Energy in the 4th quarter valued at $25,000. Piershale Financial Group Inc. bought a new stake in Eversource Energy in the 4th quarter valued at $26,000. Finally, Resurgent Financial Advisors LLC bought a new stake in Eversource Energy in the 4th quarter valued at $27,000. Institutional investors own 77.37% of the company’s stock.

About Eversource Energy

(Get Rating)

Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.