Eversource Energy (ES) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a buy rating in a research report report published on Monday. The firm currently has $69.00 target price 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.”

Several other equities analysts have also commented on ES. Credit Suisse Group increased their price objective on shares of Eversource Energy from $60.00 to $63.00 and gave the company a neutral rating in a research report on Monday, October 2nd. Williams Capital increased their price objective on shares of Eversource Energy from $64.00 to $66.00 and gave the company a buy rating in a research report on Monday, October 23rd. Bank of America started coverage on shares of Eversource Energy in a research report on Tuesday, October 24th. They set an underperform rating and a $62.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Eversource Energy from $64.00 to $68.00 and gave the company an equal weight rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $64.95.

Shares of Eversource Energy (ES) traded up $0.20 during trading hours on Monday, hitting $61.52. 1,822,400 shares of the company were exchanged, compared to its average volume of 2,339,938. Eversource Energy has a 12-month low of $54.10 and a 12-month high of $66.15. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $19,410.00, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.14 and a beta of 0.31.

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 Thomson Reuters’ 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the business earned $0.83 EPS. Eversource Energy’s revenue for the quarter was down 2.5% compared to the same quarter last year. equities research analysts anticipate that Eversource Energy will post 3.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were issued a $0.475 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $1.90 annualized dividend and a dividend yield of 3.09%. Eversource Energy’s dividend payout ratio (DPR) is presently 61.69%.

In other news, COO Werner J. Schweiger sold 10,098 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Eversource Energy by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,755 shares of the utilities provider’s stock worth $55,106,000 after buying an additional 10,934 shares during the period. Troy Asset Management Ltd increased its position in Eversource Energy by 14.4% during the 3rd quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock valued at $3,354,000 after purchasing an additional 7,000 shares during the period. Toronto Dominion Bank increased its position in Eversource Energy by 25.5% during the 2nd quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock valued at $6,516,000 after purchasing an additional 21,833 shares during the period. California State Teachers Retirement System increased its position in Eversource Energy by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 658,814 shares of the utilities provider’s stock valued at $39,997,000 after purchasing an additional 6,929 shares during the period. Finally, Amalgamated Bank increased its position in Eversource Energy by 60.2% during the 2nd quarter. Amalgamated Bank now owns 35,722 shares of the utilities provider’s stock valued at $2,169,000 after purchasing an additional 13,429 shares during the period. 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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