Eversource Energy (NYSE:ES) Stock Rating Upgraded by StockNews.com

03 Nov 2024, 05:48 by Tristan Rich · The Markets Daily

StockNews.com upgraded shares of Eversource Energy (NYSE:ES – Free Report) from a sell rating to a hold rating in a report released on Wednesday.

ES has been the subject of a number of other reports. Morgan Stanley boosted their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Scotiabank boosted their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America boosted their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Barclays boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $70.07.

Read Our Latest Research Report on Eversource Energy

Eversource Energy Stock Down 3.3 %

Shares of NYSE:ES opened at $63.67 on Wednesday. The company has a market capitalization of $22.76 billion, a price-to-earnings ratio of -235.81, a P/E/G ratio of 2.57 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The business’s 50-day moving average is $66.42 and its 200-day moving average is $62.76. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned $1.00 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Equities research analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -1,059.26%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ES. Atria Investments Inc lifted its stake in Eversource Energy by 61.8% in the third quarter. Atria Investments Inc now owns 20,913 shares of the utilities provider’s stock valued at $1,423,000 after purchasing an additional 7,984 shares during the last quarter. SpiderRock Advisors LLC lifted its stake in Eversource Energy by 81.2% in the third quarter. SpiderRock Advisors LLC now owns 8,360 shares of the utilities provider’s stock valued at $569,000 after purchasing an additional 3,746 shares during the last quarter. Easterly Investment Partners LLC lifted its stake in Eversource Energy by 14.2% in the third quarter. Easterly Investment Partners LLC now owns 206,383 shares of the utilities provider’s stock valued at $14,044,000 after purchasing an additional 25,735 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Eversource Energy in the third quarter valued at approximately $49,000. Finally, JB Capital LLC lifted its stake in Eversource Energy by 3.3% in the third quarter. JB Capital LLC now owns 20,625 shares of the utilities provider’s stock valued at $1,404,000 after purchasing an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

(Get Free Report)