Eversource Energy (NYSE:ES) Price Target Lowered to $57.00 at Scotiabank

Eversource Energy (NYSE:ES) had its price target decreased by Scotiabank from $61.00 to $57.00 in a report released on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the company. BMO Capital Markets raised their price objective on Eversource Energy from $63.00 to $64.00 and gave the stock a market perform rating in a research report on Thursday, February 15th. Wells Fargo & Company raised their target price on Eversource Energy from $67.00 to $69.00 and gave the stock an overweight rating in a research note on Tuesday, January 9th. Citigroup raised their target price on Eversource Energy from $58.00 to $62.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Guggenheim raised Eversource Energy from a neutral rating to a buy rating and raised their target price for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. Finally, Mizuho raised Eversource Energy from a neutral rating to a buy rating and raised their target price for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $65.85.

Eversource Energy Price Performance

Shares of ES opened at $60.30 on Monday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $79.92. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of -47.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.58. The business has a 50-day moving average of $58.69 and a 200-day moving average of $57.87.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business earned $0.92 earnings per share. Eversource Energy’s revenue was down 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were given a dividend of $0.715 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. This represents a $2.86 annualized dividend and a dividend yield of 4.74%. Eversource Energy’s payout ratio is presently -226.98%.

Insider Activity at Eversource Energy

In related news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy 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 transaction, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction 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 sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction 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 sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Institutional Trading of Eversource Energy

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in shares of Eversource Energy by 10.8% in the third quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider’s stock valued at $26,168,000 after buying an additional 43,720 shares during the period. OLD Republic International Corp bought a new stake in shares of Eversource Energy in the third quarter valued at $27,283,000. Cerity Partners LLC raised its stake in shares of Eversource Energy by 536.0% in the fourth quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider’s stock valued at $7,298,000 after buying an additional 99,652 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Eversource Energy by 3.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 443,444 shares of the utilities provider’s stock valued at $27,369,000 after buying an additional 12,951 shares during the period. Finally, Natixis Advisors L.P. raised its stake in shares of Eversource Energy by 11.2% in the third quarter. Natixis Advisors L.P. now owns 172,017 shares of the utilities provider’s stock valued at $10,003,000 after buying an additional 17,345 shares during the period. 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.