Eversource Energy (NYSE:ES) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley lifted their price objective on Eversource Energy from $63.00 to $67.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. Wells Fargo & Co lifted their price objective on Eversource Energy from $67.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, September 17th. Citigroup lifted their price objective on Eversource Energy from $59.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, September 25th. Bank of America raised Eversource Energy from an “underperform” rating to a “neutral” rating and set a $59.00 price objective for the company in a research note on Friday, August 3rd. Finally, Scotiabank initiated coverage on Eversource Energy in a research note on Tuesday, September 4th. They issued a “sector perform” rating for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Eversource Energy has an average rating of “Buy” and an average target price of $63.64.
Shares of NYSE ES opened at $62.19 on Friday. Eversource Energy has a twelve month low of $52.76 and a twelve month high of $66.15. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $19.71 billion, a PE ratio of 20.00, a PEG ratio of 3.21 and a beta of 0.16.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. Eversource Energy had a return on equity of 9.37% and a net margin of 12.51%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. As a group, research analysts anticipate that Eversource Energy will post 3.26 EPS for the current year.
In related news, EVP Leon J. Olivier sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $62.03, for a total transaction of $3,101,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. grew its stake in Eversource Energy by 6.3% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 52,416 shares of the utilities provider’s stock worth $3,220,000 after purchasing an additional 3,100 shares in the last quarter. American Century Companies Inc. grew its stake in Eversource Energy by 0.6% during the 3rd quarter. American Century Companies Inc. now owns 3,363,292 shares of the utilities provider’s stock worth $206,641,000 after purchasing an additional 18,739 shares in the last quarter. Buckingham Asset Management LLC acquired a new position in Eversource Energy during the 3rd quarter worth $279,000. Cambridge Investment Research Advisors Inc. grew its stake in Eversource Energy by 12.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 28,412 shares of the utilities provider’s stock worth $1,746,000 after purchasing an additional 3,042 shares in the last quarter. Finally, Usca Ria LLC grew its stake in Eversource Energy by 129.1% during the 3rd quarter. Usca Ria LLC now owns 87,763 shares of the utilities provider’s stock worth $5,392,000 after purchasing an additional 49,451 shares in the last quarter. 73.59% of the stock is owned by hedge funds and other institutional investors.
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.
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