Eversource Energy (NYSE:ES) Price Target Raised to $72.00

Eversource Energy (NYSE:ES) had its price objective boosted by Wells Fargo & Company from $69.00 to $72.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets raised their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a market perform rating in a report on Friday. UBS Group upgraded Eversource Energy from a neutral rating to a buy rating and lifted their price objective for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. Barclays decreased their target price on Eversource Energy from $66.00 to $61.00 and set an equal weight rating for the company in a report on Monday, January 22nd. StockNews.com raised shares of Eversource Energy to a sell rating in a research report on Thursday, March 28th. Finally, Argus dropped their target price on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating for the company in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $66.23.

Eversource Energy Trading Down 1.2 %

NYSE ES opened at $60.01 on Friday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $77.97. The stock has a 50-day moving average of $59.17 and a 200-day moving average of $58.14. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The business’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 earnings per share. Research analysts expect that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s payout ratio is -242.37%.

Insider Activity

In related news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Trading of Eversource Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its holdings in Eversource Energy by 2.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 251,935 shares of the utilities provider’s stock valued at $14,650,000 after buying an additional 6,309 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Eversource Energy by 10.6% in the third quarter. Stratos Wealth Partners LTD. now owns 10,236 shares of the utilities provider’s stock worth $595,000 after purchasing an additional 984 shares during the last quarter. Independent Advisor Alliance raised its stake in Eversource Energy by 4.6% during the third quarter. Independent Advisor Alliance now owns 7,202 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 318 shares in the last quarter. NorthRock Partners LLC lifted its position in Eversource Energy by 7.8% during the third quarter. NorthRock Partners LLC now owns 4,016 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 291 shares during the last quarter. Finally, Baker Ellis Asset Management LLC lifted its position in Eversource Energy by 19.9% during the third quarter. Baker Ellis Asset Management LLC now owns 11,797 shares of the utilities provider’s stock valued at $686,000 after purchasing an additional 1,957 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.