Zacks Investment Research upgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a buy rating in a report released on Monday morning. The brokerage currently has $69.00 price objective on the utilities provider’s stock.
According to Zacks, “Shares of Eversource Energy returned higher than the industry in last 12 months. Eversource Energy‘s systematic investments in renewable energy generation, primarily in transmission and distribution systems will help it to provide reliable services to its customers. Margins of the company will improve if the company continues to reduce operating costs. Moreover, its regulated investment plans will help it to boost earnings per share by 5–7% over the 2017–2020 time frame from the 2016 level of $2.96. However, the company's decision to withdraw its Access Northeast Pipeline plan due to regulatory uncertainty, will have an adverse impact on its growth prospects. Moreover, it faces challenges due to severe weather conditions.”
A number of other research analysts also recently commented on ES. Credit Suisse Group increased their price target on shares of Eversource Energy from $60.00 to $63.00 and gave the company a neutral rating in a report on Monday, October 2nd. Williams Capital raised their price objective on shares of Eversource Energy from $64.00 to $66.00 and gave the stock a buy rating in a research note on Monday, October 23rd. Bank of America initiated coverage on shares of Eversource Energy in a research note on Tuesday, October 24th. They issued an underperform rating and a $62.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Eversource Energy from $64.00 to $68.00 and gave the stock an equal weight rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $64.95.
Eversource Energy (NYSE ES) traded down $0.46 on Monday, hitting $61.32. 1,716,200 shares of the company’s stock traded hands, compared to its average volume of 2,413,871. Eversource Energy has a twelve month low of $54.10 and a twelve month high of $66.15. The company has a market cap of $19,410.00, a P/E ratio of 19.91, a PEG ratio of 3.14 and a beta of 0.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. analysts forecast that Eversource Energy will post 3.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, December 15th. Eversource Energy’s dividend payout ratio (DPR) is presently 61.69%.
In related news, COO Werner J. Schweiger sold 10,098 shares of Eversource Energy stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC grew its holdings in Eversource Energy by 1.7% in the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 32 shares during the last quarter. Risk Paradigm Group LLC grew its holdings in Eversource Energy by 111.7% in the third quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 1,117 shares during the last quarter. Sun Life Financial INC grew its holdings in Eversource Energy by 23,040.0% in the second quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 2,304 shares during the last quarter. WFG Advisors LP grew its holdings in Eversource Energy by 127.8% in the second quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Eversource Energy by 63.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,265 shares during the last quarter. 72.14% of the stock is currently owned by institutional investors.
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Eversource Energy Company Profile
Eversource Energy 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, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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