Eversource Energy (NYSE:ES) Price Target Lowered to $55.00 at Scotiabank

Eversource Energy (NYSE:ES) had its price target cut by Scotiabank from $56.00 to $55.00 in a research note released on Thursday,Benzinga reports. They currently have a sector underperform rating on the utilities provider’s stock.

A number of other research firms have also issued reports on ES. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Jefferies Financial Group dropped their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday. Finally, Barclays dropped their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.00.

Eversource Energy Trading Up 4.7 %

Shares of NYSE ES opened at $62.50 on Thursday. The firm has a fifty day moving average of $57.89 and a 200 day moving average of $62.68. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a one year low of $54.75 and a one year high of $69.01.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. As a group, analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.82%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is presently -182.17%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. lifted its position in Eversource Energy by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after buying an additional 166 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Eversource Energy by 10.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after buying an additional 176 shares during the last quarter. UMB Bank n.a. lifted its position in Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after buying an additional 197 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Eversource Energy by 1.0% in the third quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock valued at $1,368,000 after buying an additional 200 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Eversource Energy by 1.8% in the third quarter. Signaturefd LLC now owns 11,930 shares of the utilities provider’s stock valued at $812,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.