Eversource Energy’s (ES) “Buy” Rating Reaffirmed at Guggenheim

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Guggenheim reaffirmed their buy rating on shares of Eversource Energy (NYSE:ES) in a research report sent to investors on Monday morning. They currently have a $72.00 price objective on the utilities provider’s stock.

A number of other research analysts also recently weighed in on ES. Morgan Stanley lifted their price target on Eversource Energy from $63.00 to $67.00 and gave the company a hold rating in a report on Tuesday, September 11th. Wells Fargo & Co lifted their price target on Eversource Energy from $67.00 to $71.00 and gave the company an outperform rating in a report on Monday, September 17th. Citigroup lifted their price target on Eversource Energy from $59.00 to $63.00 and gave the company a hold rating in a report on Tuesday, September 25th. Barclays began coverage on Eversource Energy in a research report on Monday, October 22nd. They set a hold rating and a $64.00 price objective for the company. Finally, ValuEngine raised Eversource Energy from a hold rating to a buy rating in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Eversource Energy currently has an average rating of Buy and a consensus target price of $66.91.

Shares of NYSE ES traded down $0.53 during mid-day trading on Monday, reaching $65.52. The company had a trading volume of 27,415 shares, compared to its average volume of 1,520,656. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 3.17 and a beta of 0.25. Eversource Energy has a 1-year low of $52.76 and a 1-year high of $70.53.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.03. Eversource Energy had a return on equity of 9.32% and a net margin of 12.51%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. Eversource Energy’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, analysts anticipate that Eversource Energy will post 3.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Tuesday, December 18th were given a dividend of $0.505 per share. The ex-dividend date of this dividend was Monday, December 17th. This represents a $2.02 dividend on an annualized basis and a yield of 3.08%. Eversource Energy’s payout ratio is 64.95%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC acquired a new stake in shares of Eversource Energy in the second quarter worth about $266,000. Paradigm Asset Management Co. LLC acquired a new stake in shares of Eversource Energy in the third quarter worth about $58,000. BB&T Corp lifted its position in shares of Eversource Energy by 5.7% in the third quarter. BB&T Corp now owns 21,824 shares of the utilities provider’s stock worth $1,342,000 after buying an additional 1,168 shares during the last quarter. Huntington National Bank lifted its position in shares of Eversource Energy by 18.6% in the third quarter. Huntington National Bank now owns 5,742 shares of the utilities provider’s stock worth $353,000 after buying an additional 899 shares during the last quarter. Finally, Andra AP fonden lifted its position in shares of Eversource Energy by 6.0% in the second quarter. Andra AP fonden now owns 67,300 shares of the utilities provider’s stock worth $3,944,000 after buying an additional 3,800 shares during the last quarter. 73.53% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Company Profile

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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Analyst Recommendations for Eversource Energy (NYSE:ES)

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