Eversource Energy (NYSE:ES) PT Lowered to $57.00 at Scotiabank

Eversource Energy (NYSE:ES) had its price objective cut by Scotiabank from $61.00 to $57.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the utilities provider’s stock.

Several other research firms have also recently commented on ES. Mizuho upgraded shares of Eversource Energy from a neutral rating to a buy rating and upped their target price for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. Argus decreased their target price on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating for the company in a research report on Monday, March 25th. Barclays decreased their target price on shares of Eversource Energy from $66.00 to $61.00 and set an equal weight rating for the company in a research report on Monday, January 22nd. Wells Fargo & Company upped their target price on shares of Eversource Energy from $67.00 to $69.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Finally, UBS Group upgraded shares of Eversource Energy from a neutral rating to a buy rating and upped their target price for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $65.85.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $60.52 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $79.43. The firm has a 50-day simple moving average of $58.92 and a 200 day simple moving average of $57.94. The company has a market cap of $21.23 billion, a PE ratio of -48.03, a P/E/G ratio of 3.20 and a beta of 0.58.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company earned $0.92 EPS. Eversource Energy’s quarterly revenue was down 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Eversource Energy will post 4.52 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a yield of 4.73%. Eversource Energy’s dividend payout ratio is currently -226.98%.

Insider Activity at Eversource Energy

In related news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Hedge funds have recently made changes to their positions in the company. Heritage Wealth Advisors purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in shares of Eversource Energy in the 1st quarter valued at approximately $27,000. Bfsg LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $31,000. Finally, Versant Capital Management Inc lifted its position in shares of Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

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.