Analysts Set Eversource Energy (ES) Target Price at $62.83
Eversource Energy (NYSE:ES) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $62.83.
Several research firms recently weighed in on ES. Bank of America dropped their price target on Eversource Energy from $64.00 to $59.00 and set an “underperform” rating for the company in a report on Friday, February 2nd. UBS Group began coverage on Eversource Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $66.00 price target for the company. Morgan Stanley dropped their price target on Eversource Energy from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Janney Montgomery Scott cut Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Finally, Guggenheim restated a “buy” rating and set a $64.00 price objective on shares of Eversource Energy in a research note on Friday, February 2nd.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC increased its stake in shares of Eversource Energy by 1.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after purchasing an additional 32 shares during the last quarter. Calton & Associates Inc. bought a new position in shares of Eversource Energy in the 4th quarter valued at $119,000. Risk Paradigm Group LLC boosted its holdings in shares of Eversource Energy by 111.7% during the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 1,117 shares in the last quarter. Resources Investment Advisors Inc. boosted its holdings in shares of Eversource Energy by 131.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,085 shares of the utilities provider’s stock valued at $132,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of Eversource Energy by 80.6% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 2,102 shares of the utilities provider’s stock valued at $133,000 after acquiring an additional 938 shares in the last quarter. Institutional investors own 71.58% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 6th will be paid a $0.505 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 5th. This represents a $2.02 annualized dividend and a dividend yield of 3.55%. Eversource Energy’s dividend payout ratio (DPR) is presently 61.69%.
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About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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