Eversource Energy (ES) Upgraded to Outperform at Wolfe Research

Eversource Energy (NYSE:ES) was upgraded by equities research analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a report issued on Monday, The Fly reports. The analysts noted that the move was a valuation call.

ES has been the topic of several other reports. Zacks Investment Research upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Evercore ISI assumed coverage on shares of Eversource Energy in a research report on Thursday, March 8th. They set an “outperform” rating and a $62.00 target price on the stock. Citigroup upgraded shares of Eversource Energy from a “sell” rating to a “neutral” rating and set a $59.00 target price on the stock in a research report on Tuesday, May 1st. Credit Suisse Group set a $59.00 price target on shares of Eversource Energy and gave the company a “hold” rating in a research report on Thursday, March 29th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $65.00 price target (down from $72.00) on shares of Eversource Energy in a research report on Monday, February 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $62.54.

Shares of Eversource Energy traded up $1.06, hitting $57.09, during trading on Monday, MarketBeat reports. 70,395 shares of the company’s stock traded hands, compared to its average volume of 2,033,217. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.61 and a current ratio of 0.68. Eversource Energy has a twelve month low of $52.76 and a twelve month high of $66.15. The firm has a market cap of $17.76 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 3.00 and a beta of 0.31.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, May 3rd. The utilities provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Eversource Energy had a net margin of 12.58% and a return on equity of 9.04%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. equities analysts forecast that Eversource Energy will post 3.25 earnings per share for the current fiscal year.

In other news, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $57.03, for a total transaction of $358,262.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christine M. Carmody sold 21,500 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $57.79, for a total transaction of $1,242,485.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,117 shares of company stock worth $1,619,856. Company insiders own 0.53% of the company’s stock.

Several hedge funds have recently made changes to their positions in ES. Signaturefd LLC acquired a new position in shares of Eversource Energy during the first quarter worth approximately $106,000. Centaurus Financial Inc. acquired a new position in shares of Eversource Energy during the first quarter worth approximately $119,000. We Are One Seven LLC acquired a new position in shares of Eversource Energy during the fourth quarter worth approximately $134,000. Optimum Investment Advisors acquired a new position in shares of Eversource Energy during the first quarter worth approximately $143,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of Eversource Energy during the first quarter worth approximately $173,000. Institutional investors own 73.77% of the company’s stock.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

The Fly

Analyst Recommendations for Eversource Energy (NYSE:ES)

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