Eversource Energy (NYSE:ES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $69.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.47% from the stock’s previous close.
According to Zacks, “Shares of Eversource Energy returned higher than the industry in last 12 months. Eversource Energy‘s systematic investments in renewable energy generation, primarily in transmission and distribution systems will help it to provide reliable services to its customers. Margins of the company will improve if the company continues to reduce operating costs. Moreover, its regulated investment plans will help it to boost earnings per share by 5–7% over the 2017–2020 time frame from the 2016 level of $2.96. However, the company's decision to withdraw its Access Northeast Pipeline plan due to regulatory uncertainty, will have an adverse impact on its growth prospects. Moreover, it faces challenges due to severe weather conditions.”
Several other research analysts also recently commented on ES. Bank of America began coverage on shares of Eversource Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 price objective for the company. Williams Capital raised their price objective 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. Credit Suisse Group increased their target price on shares of Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Finally, Morgan Stanley increased their target price on shares of Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.95.
Eversource Energy (NYSE ES) traded down $0.17 on Tuesday, reaching $61.35. 2,804,600 shares of the company traded hands, compared to its average volume of 2,391,567. The company has a market cap of $19,440.00, a P/E ratio of 19.92, a PEG ratio of 3.12 and a beta of 0.31. Eversource Energy has a 52 week low of $54.10 and a 52 week high of $66.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $0.83 earnings per share. equities analysts anticipate that Eversource Energy will post 3.14 earnings per share for the current year.
In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ES. Nisa Investment Advisors LLC raised its position in shares of Eversource Energy by 30.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 57,464 shares of the utilities provider’s stock valued at $3,631,000 after buying an additional 13,300 shares in the last quarter. First PREMIER Bank raised its position in shares of Eversource Energy by 4.3% during the 4th quarter. First PREMIER Bank now owns 24,839 shares of the utilities provider’s stock valued at $1,569,000 after buying an additional 1,029 shares in the last quarter. Rockland Trust Co. raised its position in shares of Eversource Energy by 8.6% during the 4th quarter. Rockland Trust Co. now owns 31,057 shares of the utilities provider’s stock valued at $1,962,000 after buying an additional 2,472 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Eversource Energy by 4.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 972,937 shares of the utilities provider’s stock valued at $58,804,000 after buying an additional 42,619 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Eversource Energy during the 3rd quarter valued at $716,000. Institutional investors and hedge funds own 72.14% of the company’s stock.
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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, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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