Eversource Energy (NYSE:ES) Hits New 1-Year High After Analyst Upgrade

Eversource Energy (NYSE:ES)’s stock price hit a new 52-week high during mid-day trading on Friday after Morgan Stanley raised their price target on the stock from $85.00 to $91.00. Morgan Stanley currently has an equal weight rating on the stock. Eversource Energy traded as high as $93.57 and last traded at $93.48, with a volume of 34266 shares trading hands. The stock had previously closed at $92.48.

Several other brokerages have also recently issued reports on ES. KeyCorp dropped their target price on Eversource Energy from $95.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Janney Montgomery Scott cut Eversource Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, January 22nd. Citigroup lowered their price target on Eversource Energy from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. UBS Group cut Eversource Energy from a “buy” rating to a “neutral” rating and set a $91.00 price target for the company. in a report on Tuesday, October 29th. Finally, Credit Suisse Group cut Eversource Energy from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $83.36.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. acquired a new position in Eversource Energy during the 4th quarter worth about $33,000. Bay Harbor Wealth Management LLC acquired a new position in Eversource Energy during the 4th quarter worth about $34,000. TI Trust Inc. acquired a new position in Eversource Energy during the 4th quarter worth about $43,000. Assetmark Inc. lifted its stake in Eversource Energy by 25.9% during the 4th quarter. Assetmark Inc. now owns 569 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 117 shares in the last quarter. Finally, Bartlett & Co. LLC lifted its stake in Eversource Energy by 607.0% during the 3rd quarter. Bartlett & Co. LLC now owns 707 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 607 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

The company has a 50 day moving average of $88.10 and a 200-day moving average of $83.47. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.54 and a current ratio of 0.59. The stock has a market cap of $29.58 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 4.36 and a beta of 0.18.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 4th will be paid a dividend of $0.5675 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $2.27 annualized dividend and a yield of 2.42%. Eversource Energy’s dividend payout ratio is presently 65.24%.

Eversource Energy Company Profile (NYSE:ES)

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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