Eversource Energy (NYSE:ES) was upgraded by equities research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report released on Thursday.
Several other equities research analysts have also weighed in on ES. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, March 28th. Williams Capital reaffirmed a “buy” rating and issued a $63.00 target price (down from $65.00) on shares of Eversource Energy in a research report on Thursday, March 1st. Morgan Stanley dropped their target price on Eversource Energy from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 13th. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Monday, April 2nd. Finally, Wolfe Research raised Eversource Energy from a “market perform” rating to an “outperform” rating in a research report on Monday. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Eversource Energy currently has an average rating of “Hold” and a consensus price target of $62.54.
ES stock opened at $57.99 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.07. The company has a market cap of $18.24 billion, a P/E ratio of 18.65, a PEG ratio of 3.08 and a beta of 0.31. Eversource Energy has a 12-month low of $52.76 and a 12-month high of $66.15.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.10 billion. Eversource Energy had a return on equity of 9.04% and a net margin of 12.58%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. sell-side analysts expect that Eversource Energy will post 3.25 earnings per share for the current year.
In other news, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was 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 can be accessed through the SEC website. Also, EVP Christine M. Carmody sold 21,500 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $57.79, for a total value of $1,242,485.00. The disclosure for this sale can be found here. Insiders have sold 28,117 shares of company stock worth $1,619,856 over the last three months. Corporate insiders own 0.53% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC acquired a new position in shares of Eversource Energy during the first quarter valued at $106,000. Centaurus Financial Inc. acquired a new position in shares of Eversource Energy during the first quarter valued at $119,000. We Are One Seven LLC acquired a new position in shares of Eversource Energy during the fourth quarter valued at $134,000. Optimum Investment Advisors acquired a new position in shares of Eversource Energy during the first quarter valued at $143,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of Eversource Energy during the first quarter valued at $173,000. 73.78% of the stock is currently owned by institutional investors.
Eversource Energy Company Profile
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.
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