Jefferies Financial Group Cuts Eversource Energy (NYSE:ES) Price Target to $47.00

Eversource Energy (NYSE:ES) had its price target reduced by Jefferies Financial Group from $52.00 to $47.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an underperform rating on the utilities provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. Barclays dropped their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the company from $66.00 to $56.00 in a research report on Thursday, December 12th. BMO Capital Markets cut their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Finally, Mizuho increased their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Stock Down 0.9 %

Shares of NYSE:ES opened at $57.70 on Tuesday. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of -36.75, a PEG ratio of 2.13 and a beta of 0.62. Eversource Energy has a 12-month low of $52.71 and a 12-month high of $69.01. The business has a 50-day moving average price of $58.93 and a 200 day moving average price of $62.92. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. Sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s dividend payout ratio is presently -182.17%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ES. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy during the 3rd quarter worth about $808,783,000. National Bank of Canada FI increased its stake in Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after purchasing an additional 612,421 shares during the last quarter. Nordea Investment Management AB raised its holdings in Eversource Energy by 41.7% during the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares in the last quarter. State Street Corp lifted its position in shares of Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Eversource Energy by 518.1% in the 3rd quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock valued at $32,683,000 after buying an additional 402,574 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.