Eversource Energy (NYSE:ES) is included among the 11 Best Utility Stocks to Invest in According to Hedge Funds.
Eversource Energy (NYSE:ES) operates New England’s largest energy delivery system and serves customers in Connecticut, Massachusetts, and New Hampshire.
On December 12, JPMorgan lowered its price target on Eversource Energy (NYSE:ES) from $72 to $71, while maintaining an ‘Underweight’ rating on the shares. The revised target, still indicating an upside potential of almost 4% from the current share price, comes as the analyst firm updated models in the North American utilities group.
That said, BofA instead raised its price target on Eversource Energy (NYSE:ES) from $72 to $75 on December 5, while keeping its ‘Buy’ rating on the shares. The update comes after the firm hosted an investor trip to Eversource’s Cambridge underground substation and then met with the company’s CFO, John Moreira, to discuss the utility’s regulatory roadmap. As a result, BofA increased its EPS forecasts for Eversource for the 2026-29 period.
It is worth noting that last month, Eversource Energy (NYSE:ES) reaffirmed its 5-year capital plan of $24.2 billion through 2029. Moreover, the company continues to see additional capital investment opportunities of $1.5 billion to $2 billion within the forecast period.
Eversource Energy (NYSE:ES) also declared a quarterly dividend of $0.7525 per share on December 3 and currently boasts an impressive annual dividend yield of 4.43%, putting it among the 14 Best Utility Dividend Stocks to Buy Now.
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Disclosure: None.
