Zacks Investment Research upgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a buy rating in a research note issued to investors on Monday morning. Zacks Investment Research currently has $69.00 price objective on the utilities provider’s stock.
According to Zacks, “Shares of Eversource Energy returned higher than the industry in last 12 months. Eversource Energy‘s systematic investments in renewable energy generation, primarily in transmission and distribution systems will help it to provide reliable services to its customers. Margins of the company will improve if the company continues to reduce operating costs. Moreover, its regulated investment plans will help it to boost earnings per share by 5–7% over the 2017–2020 time frame from the 2016 level of $2.96. However, the company's decision to withdraw its Access Northeast Pipeline plan due to regulatory uncertainty, will have an adverse impact on its growth prospects. Moreover, it faces challenges due to severe weather conditions.”
A number of other research firms have also recently weighed in on ES. 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 report on Wednesday, December 13th. Bank of America started coverage on shares of Eversource Energy in a report on Tuesday, October 24th. They issued an underperform rating and a $62.00 price target on the stock. Credit Suisse Group raised their price target on shares of Eversource Energy from $60.00 to $63.00 and gave the company a neutral rating in a report on Monday, October 2nd. Finally, Williams Capital raised their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the company a buy rating in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Eversource Energy presently has a consensus rating of Hold and a consensus price target of $64.95.
Eversource Energy (ES) traded up $0.20 during midday trading on Monday, reaching $61.52. 1,822,400 shares of the company’s stock were exchanged, compared to its average volume of 2,339,938. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The stock has a market cap of $19,410.00, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 3.14 and a beta of 0.31. Eversource Energy has a 1-year low of $54.10 and a 1-year high of $66.15.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. equities research analysts expect that Eversource Energy will post 3.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, December 15th. Eversource Energy’s dividend payout ratio (DPR) is presently 61.69%.
In related news, COO Werner J. Schweiger sold 10,098 shares of Eversource Energy stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC lifted its stake in Eversource Energy by 1.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after acquiring an additional 32 shares during the period. Risk Paradigm Group LLC lifted its stake in Eversource Energy by 111.7% during the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 1,117 shares during the period. Sun Life Financial INC lifted its stake in Eversource Energy by 23,040.0% during the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 2,304 shares during the period. WFG Advisors LP lifted its stake in Eversource Energy by 127.8% during the 2nd quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 1,380 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Eversource Energy by 63.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 1,265 shares during the period. Institutional investors and hedge funds own 72.14% of the company’s stock.
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Eversource Energy Company Profile
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, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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