Eversource Energy (NYSE:ES) Price Target Raised to $66.00 at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective increased by BMO Capital Markets from $65.00 to $66.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a market perform rating on the utilities provider’s stock.

Several other equities research analysts also recently commented on ES. Guggenheim upgraded shares of Eversource Energy from a neutral rating to a buy rating and boosted their target price for the company from $60.00 to $72.00 in a research note on Monday, January 22nd. Mizuho upgraded shares of Eversource Energy from a neutral rating to a buy rating and lifted their target price for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Wells Fargo & Company increased their price target on Eversource Energy from $67.00 to $69.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Argus cut their price objective on Eversource Energy from $85.00 to $68.00 and set a buy rating for the company in a research report on Monday, March 25th. Finally, Barclays reduced their price objective on Eversource Energy from $66.00 to $61.00 and set an equal weight rating on the stock in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $66.23.

Eversource Energy Price Performance

Shares of NYSE:ES traded down $0.74 during midday trading on Friday, reaching $60.01. 3,447,870 shares of the company’s stock were exchanged, compared to its average volume of 2,016,408. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The company’s 50 day simple moving average is $59.15 and its two-hundred day simple moving average is $58.07. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $77.97. The firm has a market capitalization of $21.05 billion, a PE ratio of -50.86, a price-to-earnings-growth ratio of 3.25 and a beta of 0.57.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. Eversource Energy’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. Equities research analysts expect that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

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

Insider Transactions at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Frederica M. Williams sold 2,714 shares of the firm’s 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 owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Eversource Energy

Hedge funds have recently bought and sold shares of the stock. Heritage Wealth Advisors acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in shares of Eversource Energy in the first quarter worth $27,000. Bfsg LLC acquired a new position in Eversource Energy during the fourth quarter worth $31,000. Finally, Versant Capital Management Inc grew its position in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares in the last quarter. 79.99% of the stock is currently 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.