Eversource Energy (NYSE:ES) Given New $68.00 Price Target at Argus

Eversource Energy (NYSE:ES) had its price objective trimmed by Argus from $85.00 to $68.00 in a research note published on Monday, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Eversource Energy from $68.00 to $69.00 and gave the stock a neutral rating in a report on Wednesday, November 29th. Guggenheim upgraded Eversource Energy from a neutral rating to a buy rating and increased their price target for the stock from $60.00 to $72.00 in a report on Monday, January 22nd. BMO Capital Markets increased their price target on Eversource Energy from $63.00 to $64.00 and gave the stock a market perform rating in a report on Thursday, February 15th. Citigroup increased their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Finally, StockNews.com upgraded Eversource Energy to a sell rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four 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 a consensus price target of $65.08.

Eversource Energy Trading Up 4.8 %

NYSE ES opened at $58.98 on Monday. The stock has a 50-day simple moving average of $56.89 and a 200 day simple moving average of $58.10. The company has a market capitalization of $20.69 billion, a PE ratio of -46.81, a P/E/G ratio of 3.04 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $81.36.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. Research analysts forecast that Eversource Energy will post 4.55 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Tuesday, March 5th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a yield of 4.85%. Eversource Energy’s dividend payout ratio is -226.98%.

Insider Activity at Eversource Energy

In related news, insider Faasen William C. Van sold 2,714 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $54.50, for a total transaction of $147,913.00. Following the completion of the transaction, the insider now directly owns 19,619 shares of the company’s stock, valued at $1,069,235.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Faasen William C. Van sold 2,714 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $54.50, for a total transaction of $147,913.00. Following the completion of the transaction, the insider now directly owns 19,619 shares of the company’s stock, valued at $1,069,235.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the 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 transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,250 shares of company stock valued at $352,014. Insiders own 0.38% of the company’s stock.

Institutional Trading of Eversource Energy

A number of hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $434,000. HighPoint Advisor Group LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $282,000. PNC Financial Services Group Inc. lifted its holdings in Eversource Energy by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 441,990 shares of the utilities provider’s stock worth $27,280,000 after purchasing an additional 3,956 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Eversource Energy by 15.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,375 shares of the utilities provider’s stock worth $270,000 after purchasing an additional 590 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its holdings in Eversource Energy by 9.4% during the 4th quarter. SageView Advisory Group LLC now owns 9,293 shares of the utilities provider’s stock worth $574,000 after purchasing an additional 801 shares during 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.