BMO Capital Markets Cuts Eversource Energy (NYSE:ES) Price Target to $75.00
by Danessa Lincoln · The Markets DailyEversource Energy (NYSE:ES – Free Report) had its price target cut by BMO Capital Markets from $79.00 to $75.00 in a research note released on Monday,Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.
ES has been the topic of several other research reports. UBS Group dropped their price objective on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Wells Fargo & Company upgraded Eversource Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $71.00 to $78.00 in a research note on Tuesday, February 17th. Bank of America reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus price target of $73.90.
Read Our Latest Research Report on ES
Eversource Energy Stock Performance
NYSE ES opened at $67.02 on Monday. The company has a market capitalization of $25.17 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 2.92 and a beta of 0.76. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.65. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $76.41. The company has a 50-day simple moving average of $71.41 and a 200 day simple moving average of $69.98.
Eversource Energy (NYSE:ES – Get Free Report) last released its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. On average, research analysts predict that Eversource Energy will post 4.75 EPS for the current year.
Eversource Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be issued a $0.7875 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.15 annualized dividend and a yield of 4.7%. Eversource Energy’s payout ratio is 68.93%.
Insider Activity at Eversource Energy
In other Eversource Energy news, insider John Y. Kim sold 6,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $73.57, for a total transaction of $441,420.00. Following the sale, the insider owned 12,339 shares in the company, valued at $907,780.23. This represents a 32.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John M. Moreira sold 7,800 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $73.90, for a total value of $576,420.00. Following the completion of the transaction, the executive vice president directly owned 43,269 shares of the company’s stock, valued at $3,197,579.10. The trade was a 15.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,381 shares of company stock worth $1,211,079. Corporate insiders own 0.41% of the company’s stock.
Institutional Trading of Eversource Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC bought a new position in Eversource Energy in the 3rd quarter worth about $26,000. Lodestone Wealth Management LLC bought a new stake in shares of Eversource Energy during the fourth quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Eversource Energy during the third quarter valued at about $27,000. Activest Wealth Management lifted its holdings in shares of Eversource Energy by 2,337.5% in the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after buying an additional 374 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Eversource Energy in the second quarter valued at approximately $26,000. 79.99% of the stock is currently owned by institutional investors.
About Eversource Energy
Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.
Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.