Eversource Energy's Price Target Cut Amid Analyst Caution
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 05 2024
0mins
Should l Buy ES?
Source: SeekingAlpha
Eversource Energy (ES) saw its stock rise by 3.01% and reached a 20-day high despite the broader market decline, with the Nasdaq-100 down 1.76% and the S&P 500 down 1.07%.
The stock's movement comes amid UBS analyst William Appicelli lowering the price target from $78 to $73 while maintaining a Neutral rating, reflecting a cautious outlook on the company's future performance. Additionally, JP Morgan analyst Jeremy Tonet cut the price target from $72 to $71, indicating concerns about the utilities sector's overall outlook. However, Eversource's strong dividend yield of 4.59% continues to attract income-seeking investors, providing some support for the stock price despite the cautious analyst ratings.
The implications of these adjustments suggest that while Eversource Energy has shown resilience in its stock price, ongoing analyst caution may create headwinds for future performance, particularly in a challenging market environment.
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Analyst Views on ES
Wall Street analysts forecast ES stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ES is 71.91 USD with a low forecast of 60.00 USD and a high forecast of 80.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
3 Buy
6 Hold
3 Sell
Hold
Current: 67.730
Low
60.00
Averages
71.91
High
80.00
Current: 67.730
Low
60.00
Averages
71.91
High
80.00
About ES
Eversource Energy is a utility holding company, which is engaged in the energy delivery business through its utility subsidiaries. Its segments include Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment is engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts and New Hampshire, respectively, and the solar power facilities of NSTAR Electric Company. The Electric Transmission segment owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England. The Natural Gas Distribution distributes natural gas to his customers in central and eastern Massachusetts. The Water Distribution segment provides water services to over 248,000 residential, commercial, industrial, municipal and fire protection and other customers, in 73 towns and cities in Connecticut, Massachusetts and New Hampshire.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Sustainability Recognition: Eversource has been named one of America's Most Responsible Companies by Newsweek for 2026 and ranked #1 utility on USA Today's list of America's Climate Leaders for 2025, highlighting its leadership in sustainability and corporate citizenship.
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- Market Reaction: JP Morgan analyst Jeremy Tonet cut the price target from $72 to $71 and maintained an Underweight rating, indicating concerns about the overall outlook for the utilities sector, which could put pressure on the stock price.
- Dividend Yield: Eversource Energy boasts a dividend yield of 4.59%, which continues to attract income-seeking investors despite the target price reduction, highlighting the company's appeal in uncertain market conditions.
- Earnings Performance: The company reported better-than-expected quarterly results on November 4, and while analysts maintain a cautious stance on future prospects, the strong earnings performance may provide some support for the stock price.
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- Nasdaq Struggles: In contrast, the Nasdaq Composite ended the week down 1.8%, despite a strong rally on Friday.
See More
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- Job Data Expectations: The U.S. is expected to add 60,000 jobs in January, up from 50,000 in December, which could influence the Fed's monetary policy direction amidst ongoing economic uncertainty.
- Inflation Metrics Analysis: The January Consumer Price Index is projected to rise by 0.29% month-over-month and 2.5% year-over-year, showing improvement but still falling short of the Fed's 2% target, potentially affecting investor rate expectations.
- Market Reaction and Risks: Recent signs of labor market weakness, including an ADP report indicating only 22,000 new private sector jobs, may heighten expectations for further Fed rate cuts, although investors remain optimistic about economic resilience.
- Stock Market Rotation Trend: A significant rotation within the stock market is underway, with the Dow Jones Industrial Average rising over 2% this week, reflecting confidence in economic recovery, despite ongoing weakness in tech stocks.
See More
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- Investor Preference: During turbulent and uncertain market conditions, many investors gravitate towards high dividend-yielding stocks, which typically possess high free cash flows and reward shareholders with substantial dividend payouts.
- Sector Analysis: High-yield stocks in the utilities sector are under significant analyst scrutiny, particularly Brookfield Infrastructure Partners L.P. (BIP), Eversource Energy (ES), and Edison International (EIX), which excel in stability and profitability.
- Analyst Ratings: Based on the most accurate analyst ratings, these three high dividend stocks are considered top picks for investors, reflecting their appeal in uncertain market environments.
- Market Trends: As market volatility intensifies, the demand for high dividend stocks may continue to rise, potentially driving up the stock prices and market performance of these companies.
See More
Eversource Energy Announces Quarterly Dividend Increase
- Dividend Increase: Eversource Energy has declared a quarterly dividend of $0.7875 per share, representing a 4.7% increase from the previous dividend of $0.7525, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns.
- Stable Yield: The forward yield of 4.46% not only attracts income-seeking investors but also reflects the company's financial health in the current market environment, indicating robust operational performance.
- Payment Schedule: The dividend is payable on March 31, with a record date of March 5 and an ex-dividend date also on March 5, ensuring shareholders receive timely returns and enhancing investor confidence in the company's stability.
- Market Reaction: Amid Goldman Sachs' view that the U.S. offshore wind halt will be short-lived, Eversource Energy's stock price may experience positive momentum, especially following its upgrade to a 'Buy' rating by Janney, suggesting potential for future growth.
See More
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- Earnings Release Schedule: Eversource Energy plans to release its full-year 2025 financial results on February 12, 2026, at 4 p.m. ET, followed by an earnings conference call on February 13 at 9 a.m. ET to discuss performance and business updates with analysts and investors.
- Sustainability Recognition: Eversource has been named one of America's Most Responsible Companies by Newsweek for 2026 and ranked #1 utility on USA Today's list of America's Climate Leaders for 2025, highlighting its leadership in sustainability and corporate citizenship.
- Customer Base and Services: Eversource serves approximately 4.6 million customers in Connecticut, Massachusetts, and New Hampshire, and with over 10,000 employees, it is committed to delivering safe and reliable energy and water services.
- Clean Energy Future: The company is empowering a clean energy future in the Northeast by implementing nationally recognized energy efficiency solutions and successfully integrating new clean energy resources, including a first-in-the-nation networked geothermal pilot project, solar, offshore wind, electric vehicles, and battery storage, enhancing the sustainability of the electric system.
See More
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- Rating Adjustment: UBS analyst William Appicelli lowered Eversource Energy's price target from $78 to $73 while maintaining a Neutral rating, reflecting a cautious outlook on the company's future performance, which may impact investor confidence.
- Market Reaction: JP Morgan analyst Jeremy Tonet cut the price target from $72 to $71 and maintained an Underweight rating, indicating concerns about the overall outlook for the utilities sector, which could put pressure on the stock price.
- Dividend Yield: Eversource Energy boasts a dividend yield of 4.59%, which continues to attract income-seeking investors despite the target price reduction, highlighting the company's appeal in uncertain market conditions.
- Earnings Performance: The company reported better-than-expected quarterly results on November 4, and while analysts maintain a cautious stance on future prospects, the strong earnings performance may provide some support for the stock price.
See More
