Eversource Energy (NYSE:ES) Reaches New 12-Month High on Analyst Upgrade

Eversource Energy (NYSE:ES)’s stock price reached a new 52-week high on Tuesday after KeyCorp raised their price target on the stock from $88.00 to $95.00. KeyCorp currently has an overweight rating on the stock. Eversource Energy traded as high as $86.54 and last traded at $86.22, with a volume of 11749 shares. The stock had previously closed at $86.14.

ES has been the subject of several other research reports. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $76.00 to $88.00 in a report on Wednesday, September 4th. Morgan Stanley increased their price objective on Eversource Energy from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America set a $78.00 price objective on Eversource Energy and gave the company a “sell” rating in a report on Monday, July 15th. UBS Group increased their price objective on Eversource Energy from $86.00 to $91.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, ValuEngine downgraded Eversource Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $81.45.

In related news, CFO Philip J. Lembo sold 1,256 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $79.61, for a total value of $99,990.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gregory B. Butler sold 8,298 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $77.30, for a total value of $641,435.40. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ES. NN Investment Partners Holdings N.V. boosted its stake in shares of Eversource Energy by 5.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,928,737 shares of the utilities provider’s stock valued at $146,122,000 after purchasing an additional 92,469 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Eversource Energy by 42.0% during the second quarter. Acadian Asset Management LLC now owns 44,174 shares of the utilities provider’s stock valued at $3,347,000 after purchasing an additional 13,074 shares in the last quarter. Hartford Investment Management Co. boosted its stake in shares of Eversource Energy by 1.0% during the second quarter. Hartford Investment Management Co. now owns 65,526 shares of the utilities provider’s stock valued at $4,964,000 after purchasing an additional 662 shares in the last quarter. APG Asset Management N.V. boosted its stake in shares of Eversource Energy by 13.5% during the second quarter. APG Asset Management N.V. now owns 1,357,503 shares of the utilities provider’s stock valued at $90,309,000 after purchasing an additional 161,400 shares in the last quarter. Finally, FineMark National Bank & Trust acquired a new stake in shares of Eversource Energy during the second quarter valued at about $323,000. 78.53% of the stock is currently owned by institutional investors and hedge funds.

The stock has a 50 day moving average of $84.07 and a 200 day moving average of $77.42. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $27.70 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 4.43 and a beta of 0.20.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.95 billion. Eversource Energy had a return on equity of 9.24% and a net margin of 10.00%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. As a group, sell-side analysts anticipate that Eversource Energy will post 3.44 EPS for the current fiscal year.

The firm also recently announced a — dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a $0.535 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a yield of 2.6%. Eversource Energy’s payout ratio is currently 65.24%.

Eversource Energy Company Profile (NYSE:ES)

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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