Guggenheim upgraded shares of Eversource Energy (NYSE:ES – Free Report) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has $72.00 target price on the utilities provider’s stock, up from their previous target price of $60.00.
Several other analysts have also recently commented on ES. Wells Fargo & Company increased their target price on Eversource Energy from $67.00 to $69.00 and gave the stock an overweight rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. lifted 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. BMO Capital Markets reduced their price objective on Eversource Energy from $75.00 to $62.00 and set a market perform rating on the stock in a research report on Friday, October 13th. StockNews.com upgraded Eversource Energy to a sell rating in a research report on Thursday, January 11th. Finally, UBS Group upped their target price on Eversource Energy from $58.00 to $62.00 and gave the company a neutral rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $65.33.
Eversource Energy Stock Performance
Eversource Energy (NYSE:ES – Get Free Report) last posted its quarterly earnings data on Monday, November 6th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). Eversource Energy had a return on equity of 9.64% and a net margin of 9.52%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. Eversource Energy’s quarterly revenue was down 13.2% on a year-over-year basis. On average, analysts expect that Eversource Energy will post 4.36 EPS for the current fiscal year.
Eversource Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a $0.675 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $2.70 annualized dividend and a yield of 4.92%. Eversource Energy’s payout ratio is presently 80.84%.
In other news, insider Faasen William C. Van sold 2,714 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $54.50, for a total transaction of $147,913.00. Following the sale, the insider now directly owns 19,619 shares in the company, valued at approximately $1,069,235.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.
Hedge Funds Weigh In On Eversource Energy
A number of institutional investors and hedge funds have recently made changes to their positions in ES. Allspring Global Investments Holdings LLC lifted its holdings in shares of Eversource Energy by 69.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 300,885 shares of the utilities provider’s stock worth $18,571,000 after acquiring an additional 123,278 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Eversource Energy by 11.1% in the 4th quarter. HBK Sorce Advisory LLC now owns 5,479 shares of the utilities provider’s stock worth $338,000 after acquiring an additional 546 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Eversource Energy in the 4th quarter worth about $98,360,000. Bleakley Financial Group LLC lifted its holdings in shares of Eversource Energy by 7.1% in the 4th quarter. Bleakley Financial Group LLC now owns 6,651 shares of the utilities provider’s stock worth $411,000 after acquiring an additional 443 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Eversource Energy by 36.2% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,919 shares of the utilities provider’s stock worth $365,000 after acquiring an additional 1,574 shares during the last quarter. 80.83% of the stock is owned by hedge funds and other institutional investors.
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.
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