Analysts Set Eversource Energy (NYSE:ES) Price Target at $67.42

Eversource Energy (NYSE:ES) has received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $67.42.

ES has been the subject of several research analyst reports. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Barclays dropped their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. BMO Capital Markets reduced their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $66.00 to $56.00 in a research report on Thursday, December 12th.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted 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 purchasing an additional 430,587 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Eversource Energy during the third quarter worth about $808,783,000. Charles Schwab Investment Management Inc. grew its position in Eversource Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock worth $570,500,000 after buying an additional 226,972 shares during the period. Geode Capital Management LLC grew its position in Eversource Energy by 3.1% during the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after buying an additional 268,588 shares during the period. Finally, FMR LLC increased its holdings in Eversource Energy by 2.7% in the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after buying an additional 185,381 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.8 %

ES opened at $59.42 on Monday. The business has a fifty day moving average price of $57.99 and a 200 day moving average price of $62.75. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a 12 month low of $52.71 and a 12 month high of $69.01. The stock has a market capitalization of $21.77 billion, a price-to-earnings ratio of -37.85, a PEG ratio of 2.25 and a beta of 0.62.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.07%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s payout ratio is -182.17%.

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.