Eversource Energy (NYSE:ES) PT Lowered to $72.00 at BMO Capital Markets

Eversource Energy (NYSE:ES) had its target price reduced by BMO Capital Markets from $74.00 to $72.00 in a report published on Tuesday, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Several other research firms also recently commented on ES. Morgan Stanley raised their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Scotiabank increased their price objective on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Mizuho raised their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.07.

Eversource Energy Stock Down 1.1 %

Shares of NYSE ES opened at $65.00 on Tuesday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The firm has a 50-day simple moving average of $66.42 and a two-hundred day simple moving average of $62.19. The company has a market cap of $22.90 billion, a P/E ratio of -55.08, a PEG ratio of 2.47 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. Research analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is currently -242.37%.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after buying an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Eversource Energy by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after purchasing an additional 20,207 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after purchasing an additional 354,429 shares during the period. ClearBridge Investments Ltd purchased a new position in shares of Eversource Energy in the first quarter worth about $156,093,000. Finally, Zimmer Partners LP lifted its holdings in shares of Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

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.