Eversource Energy (NYSE:ES) Price Target Raised to $61.00

Eversource Energy (NYSE:ESFree Report) had its price target lifted by Bank of America from $50.00 to $61.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an underperform rating on the utilities provider’s stock.

Other analysts have also issued research reports about the company. Scotiabank cut their target price on Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets boosted their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a market perform rating in a research note on Friday, May 3rd. Barclays lowered their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an equal weight rating for the company in a research note on Monday, January 22nd. Guggenheim upgraded shares of Eversource Energy from a neutral rating to a buy rating and increased their target price for the stock from $60.00 to $72.00 in a report on Monday, January 22nd. Finally, Wells Fargo & Company upped their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Eversource Energy has an average rating of Hold and a consensus target price of $65.86.

Check Out Our Latest Stock Analysis on Eversource Energy

Eversource Energy Trading Down 0.8 %

Shares of Eversource Energy stock opened at $60.96 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $74.81. The business’s fifty day simple moving average is $59.63 and its 200-day simple moving average is $58.60.

Eversource Energy (NYSE:ESGet Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Eversource Energy’s revenue for the quarter was down 12.2% compared to the same quarter last year. Research analysts predict that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.69%. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insiders Place Their Bets

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 owns 10,485 shares in the company, valued at $609,388.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy 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 transaction, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy in the fourth quarter valued at about $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy in the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy in the 1st quarter worth approximately $27,000. Bfsg LLC purchased a new position in Eversource Energy in the 4th quarter valued at approximately $31,000. Finally, Versant Capital Management Inc raised its holdings in Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

About Eversource Energy

(Get Free Report)

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.

See Also

Analyst Recommendations for Eversource Energy (NYSE:ES)

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