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.
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.
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%.
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.
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