Eversource Energy (NYSE:ES) Receives $67.43 Average Price Target from Analysts

Shares of Eversource Energy (NYSE:ES) have been assigned an average recommendation of “Hold” from the fourteen analysts that are covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $67.43.

Several equities analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Scotiabank lowered their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company raised their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, BMO Capital Markets upped their price objective on Eversource Energy from $69.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th.

Eversource Energy Stock Up 0.4 %

Shares of ES opened at $65.11 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $68.72. The firm’s 50 day moving average is $60.92 and its 200-day moving average is $59.54. The stock has a market capitalization of $22.94 billion, a PE ratio of -55.18, a P/E/G ratio of 2.53 and a beta of 0.59.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. Equities research analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

Insider Transactions at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the sale, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,015 shares of company stock worth $806,478. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ClearBridge Investments Ltd bought a new position in Eversource Energy during the 1st quarter valued at about $156,093,000. Norges Bank purchased a new stake in Eversource Energy in the fourth quarter worth approximately $149,906,000. Zimmer Partners LP grew its position in Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in Eversource Energy by 65.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after buying an additional 1,524,341 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Eversource Energy during the 1st quarter valued at $83,539,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

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.