Eversource Energy (NYSE:ES) had its price target raised by Deutsche Bank AG from $59.00 to $61.00 in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the stock.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Eversource Energy from a hold rating to a sell rating in a research note on Monday. Credit Suisse Group AG assumed coverage on shares of Eversource Energy in a research note on Wednesday, January 25th. They set a neutral rating and a $57.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $60.00.
Eversource Energy (NYSE:ES) opened at 59.62 on Tuesday. The company has a 50-day moving average of $58.86 and a 200 day moving average of $55.41. Eversource Energy has a one year low of $50.56 and a one year high of $60.44. The company has a market cap of $18.89 billion, a P/E ratio of 20.14 and a beta of 0.32.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 21st. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Eversource Energy had a return on equity of 8.61% and a net margin of 11.85%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts anticipate that Eversource Energy will post $3.15 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Thursday, March 2nd were paid a dividend of $0.475 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Tuesday, February 28th. Eversource Energy’s payout ratio is presently 63.35%.
In related news, CEO James J. Judge sold 90,000 shares of the firm’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $56.00, for a total transaction of $5,040,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $58.28, for a total transaction of $366,114.96. The disclosure for this sale can be found here. Insiders have sold 283,073 shares of company stock valued at $16,373,968 over the last quarter. Insiders own 0.89% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of Eversource Energy by 1.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,364,134 shares of the company’s stock valued at $453,169,000 after buying an additional 131,354 shares during the period. Wells Fargo & Company MN boosted its position in shares of Eversource Energy by 1.1% in the third quarter. Wells Fargo & Company MN now owns 6,670,180 shares of the company’s stock valued at $361,391,000 after buying an additional 74,535 shares during the period. Norges Bank acquired a new position in shares of Eversource Energy during the fourth quarter valued at about $217,140,000. Commonwealth Bank of Australia boosted its position in shares of Eversource Energy by 20.9% in the third quarter. Commonwealth Bank of Australia now owns 3,802,481 shares of the company’s stock valued at $206,018,000 after buying an additional 658,123 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Eversource Energy by 1.0% in the third quarter. Northern Trust Corp now owns 3,614,909 shares of the company’s stock valued at $195,856,000 after buying an additional 35,568 shares during the period. 70.28% of the stock is owned by hedge funds and other institutional investors.
About Eversource Energy
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, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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