Barclays Issues Pessimistic Forecast for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its price objective trimmed by Barclays from $72.00 to $69.00 in a report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets dropped their price target 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 assumed coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target for the company. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.83.

Eversource Energy Stock Performance

NYSE ES opened at $56.31 on Wednesday. The firm has a 50-day moving average price of $59.12 and a two-hundred day moving average price of $62.87. Eversource Energy has a 12-month low of $52.71 and a 12-month high of $69.01. The company has a market capitalization of $20.63 billion, a P/E ratio of -35.87, a P/E/G ratio of 2.13 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the company posted $0.97 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were given a $0.715 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.08%. Eversource Energy’s dividend payout ratio is presently -182.17%.

Institutional Trading of Eversource Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in Eversource Energy during the 3rd quarter worth approximately $808,783,000. National Bank of Canada FI grew its stake in shares of Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock worth $51,019,000 after purchasing an additional 612,421 shares during the last quarter. Millennium Management LLC increased its holdings in Eversource Energy by 75.8% in the second quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock valued at $74,142,000 after purchasing an additional 563,756 shares during the period. Nordea Investment Management AB raised its position in Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares during the last quarter. Finally, State Street Corp raised its position in 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 during the last quarter. 79.99% of the stock is currently owned by 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.