Mizuho Increases Eversource Energy (NYSE:ES) Price Target to $73.00

Eversource Energy (NYSE:ES) had its price target raised by Mizuho from $62.00 to $73.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

ES has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Barclays upped their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an equal weight rating in a research report on Monday, July 22nd. BMO Capital Markets lowered their price target on shares of Eversource Energy from $73.00 to $70.00 and set a market perform rating for the company in a research report on Monday, August 19th. Scotiabank upped their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a sector perform rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley upped their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an equal weight rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $70.00.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $65.38 on Wednesday. The company has a market capitalization of $23.03 billion, a price-to-earnings ratio of -55.41, a PEG ratio of 2.54 and a beta of 0.61. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The firm’s 50-day moving average is $66.63 and its 200 day moving average is $61.83. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. Research analysts predict that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Announces Dividend

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

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s 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 transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 sale, the executive vice president now owns 9,032 shares in the company, valued at $591,596. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction 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 sale, 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. 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 business. Mirae Asset Global Investments Co. Ltd. grew its position in Eversource Energy by 24.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock valued at $4,232,000 after buying an additional 13,950 shares during the period. Banque Cantonale Vaudoise grew its position in Eversource Energy by 38.3% during the first quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock valued at $3,394,000 after buying an additional 15,714 shares during the period. Great Oak Capital Partners LLC acquired a new stake in Eversource Energy during the fourth quarter valued at $1,047,000. Cibc World Markets Corp grew its position in Eversource Energy by 133.3% during the fourth quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock valued at $2,775,000 after buying an additional 25,688 shares during the period. Finally, Ethic Inc. grew its position in Eversource Energy by 23.1% during the fourth quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock valued at $10,167,000 after buying an additional 30,890 shares during the period. Institutional investors and hedge funds 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.