Analysts Set Eversource Energy (ES) PT at $61.95

Shares of Eversource Energy (NYSE:ES) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $61.86.

A number of research analysts have recently weighed in on ES shares. Morgan Stanley upgraded shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 price target on the stock in a research note on Wednesday, December 13th. Zacks Investment Research cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Credit Suisse Group cut shares of Eversource Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $63.00 to $59.00 in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Citigroup cut shares of Eversource Energy from a “neutral” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Guggenheim restated a “buy” rating and set a $64.00 price target on shares of Eversource Energy in a research note on Friday, February 2nd.

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Several hedge funds have recently added to or reduced their stakes in the stock. Roosevelt Investment Group Inc. grew its holdings in Eversource Energy by 22.6% in the 4th quarter. Roosevelt Investment Group Inc. now owns 6,164 shares of the utilities provider’s stock worth $389,000 after acquiring an additional 1,136 shares during the last quarter. FDO Partners LLC bought a new stake in Eversource Energy in the 3rd quarter worth $3,767,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Eversource Energy by 16.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 158,260 shares of the utilities provider’s stock worth $9,605,000 after acquiring an additional 22,500 shares during the last quarter. Shell Asset Management Co. bought a new stake in Eversource Energy in the 4th quarter worth $6,808,000. Finally, Geode Capital Management LLC grew its holdings in Eversource Energy by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,625,817 shares of the utilities provider’s stock worth $228,627,000 after acquiring an additional 118,626 shares during the last quarter. 73.81% of the stock is currently owned by institutional investors.

Shares of NYSE:ES traded down $0.36 during midday trading on Friday, hitting $59.65. 1,769,333 shares of the company’s stock were exchanged, compared to its average volume of 2,083,149. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.63. The company has a market cap of $19,016.32, a PE ratio of 19.18, a PEG ratio of 3.20 and a beta of 0.32. Eversource Energy has a 12 month low of $55.93 and a 12 month high of $66.15.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). Eversource Energy had a return on equity of 9.03% and a net margin of 12.74%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. equities research analysts expect that Eversource Energy will post 3.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Tuesday, March 6th were issued a $0.505 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, March 5th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.39%. Eversource Energy’s dividend payout ratio is presently 64.95%.

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About Eversource Energy

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.

Analyst Recommendations for Eversource Energy (NYSE:ES)

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