Bank of America Corporation began coverage on shares of Eversource Energy (NYSE:ES) in a report published on Tuesday, October 24th, Marketbeat Ratings reports. The brokerage issued an underperform rating and a $62.00 price target on the utilities provider’s stock.
A number of other equities analysts also recently commented on ES. BidaskClub upgraded Eversource Energy from a sell rating to a hold rating in a research note on Friday, August 18th. Morgan Stanley raised their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the stock an equal weight rating in a report on Thursday, August 10th. Williams Capital raised their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the stock a buy rating in a report on Monday, October 23rd. Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the company a buy rating in a report on Monday, July 31st. Finally, Deutsche Bank AG cut Eversource Energy from a buy rating to a hold rating and lifted their price target for the company from $61.00 to $61.50 in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Eversource Energy currently has a consensus rating of Hold and a consensus target price of $64.06.
Eversource Energy (ES) opened at $64.07 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $20,302.88, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 3.43 and a beta of 0.31. Eversource Energy has a 52 week low of $50.56 and a 52 week high of $65.01.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the business posted $0.83 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. sell-side analysts expect that Eversource Energy will post 3.15 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of ES. FMR LLC grew its stake in Eversource Energy by 35.3% during the first quarter. FMR LLC now owns 269,323 shares of the utilities provider’s stock worth $15,830,000 after buying an additional 70,198 shares during the last quarter. Teachers Advisors LLC grew its stake in Eversource Energy by 3.6% during the first quarter. Teachers Advisors LLC now owns 587,018 shares of the utilities provider’s stock worth $34,505,000 after buying an additional 20,312 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Eversource Energy by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 739,042 shares of the utilities provider’s stock worth $43,440,000 after buying an additional 41,599 shares during the last quarter. Gotham Asset Management LLC grew its stake in Eversource Energy by 112.5% during the first quarter. Gotham Asset Management LLC now owns 10,406 shares of the utilities provider’s stock worth $612,000 after buying an additional 5,510 shares during the last quarter. Finally, Paloma Partners Management Co lifted its position in shares of Eversource Energy by 539.5% during the first quarter. Paloma Partners Management Co now owns 26,591 shares of the utilities provider’s stock worth $1,563,000 after purchasing an additional 22,433 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.
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, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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