BMO Capital Markets Raises Eversource Energy (NYSE:ES) Price Target to $74.00

06 Oct 2024, 06:46 by Jessica Moore · The Cerbat Gem

Eversource Energy (NYSE:ES – Free Report) had its price target upped by BMO Capital Markets from $70.00 to $74.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a market perform rating on the utilities provider’s stock.

A number of other research analysts have also recently issued reports on the company. 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 note on Friday, August 23rd. Wells Fargo & Company increased their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Eversource Energy from a hold rating to a sell rating in a research note on Saturday, July 27th. Mizuho increased their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Bank of America boosted their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a neutral rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy currently has an average rating of Hold and an average target price of $70.00.

Get Our Latest Stock Analysis on Eversource Energy

Eversource Energy Trading Down 0.8 %

NYSE ES opened at $65.38 on Thursday. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The stock has a 50-day simple moving average of $66.63 and a 200 day simple moving average of $61.85. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $23.03 billion, a PE ratio of -55.41, a P/E/G ratio of 2.54 and a beta of 0.61.

Eversource Energy (NYSE:ES – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 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 during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the business posted $1.00 EPS. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. Research analysts forecast that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -242.37%.

Insider Activity

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

Hedge Funds Weigh In On Eversource Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bard Financial Services Inc. lifted its position in Eversource Energy by 166.8% during the third quarter. Bard Financial Services Inc. now owns 16,800 shares of the utilities provider’s stock worth $1,143,000 after acquiring an additional 10,504 shares during the last quarter. Thrive Wealth Management LLC bought a new position in shares of Eversource Energy during the third quarter worth approximately $207,000. Rockland Trust Co. lifted its holdings in Eversource Energy by 2.0% during the 3rd quarter. Rockland Trust Co. now owns 14,052 shares of the utilities provider’s stock worth $956,000 after purchasing an additional 275 shares during the last quarter. Apella Capital LLC bought a new stake in Eversource Energy in the 3rd quarter valued at $250,000. Finally, SG Americas Securities LLC boosted its stake in Eversource Energy by 127.7% in the 3rd quarter. SG Americas Securities LLC now owns 114,201 shares of the utilities provider’s stock valued at $7,771,000 after purchasing an additional 64,039 shares during the period. 79.99% of the stock is owned by institutional investors.

Eversource Energy Company Profile

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