Eversource Energy Sees Mixed Investor Sentiment and Positive Earnings Report

Eversource Energy, a leading energy delivery company in New England, has recently experienced mixed sentiment from investors and analysts. In the third quarter, Glenmede Trust Co. NA reduced its holdings in Eversource Energy by 26.7%, according to the latest financial reports. However, other institutional investors such as FMR LLC, Qsemble Capital Management LP, and Bank of Montreal Can have increased their stakes in the company.

Despite the mixed investor activity, Eversource Energy reported strong quarterly earnings. On November 4, the company announced earnings per share (EPS) of $1.13 for the quarter, surpassing analysts’ consensus estimates of $1.08. The revenue for the quarter was $3.06 billion, aligning with analyst expectations and representing a 9.7% increase from the same quarter last year.

Analysts have set a consensus price target for Eversource Energy at $70.46, with a range from $62.00 to $79.00. The stock currently has a “hold” consensus rating from Wall Street analysts, with seven hold ratings and six buy ratings. This indicates that while analysts believe investors should maintain their existing positions, there is no strong consensus to buy additional shares or sell existing ones.

Eversource Energy also recently announced a quarterly dividend of $0.715, paid on September 30, representing an annualized dividend yield of 4.43%. The company operates through several segments, including Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution, serving over 3.6 million customers in Connecticut, Massachusetts, and New Hampshire.