Eversource Energy (NYSE:ES) Reaches New 12-Month High at $79.10

Eversource Energy (NYSE:ES) hit a new 52-week high during trading on Thursday . The company traded as high as $79.10 and last traded at $78.82, with a volume of 148475 shares trading hands. The stock had previously closed at $77.16.

ES has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating for the company in a research note on Friday. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a research note on Monday, June 17th. Bank of America set a $78.00 price objective on Eversource Energy and gave the company a “sell” rating in a research note on Monday, July 15th. Barclays increased their price objective on Eversource Energy from $71.00 to $79.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 18th. Finally, Wells Fargo & Co increased their price objective on Eversource Energy from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $76.33.

The stock has a market cap of $24.97 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 3.99 and a beta of 0.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.56. The business has a 50 day moving average price of $77.07 and a two-hundred day moving average price of $73.26.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Eversource Energy had a return on equity of 9.24% and a net margin of 10.00%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Eversource Energy will post 3.43 earnings per share for the current fiscal year.

In related news, VP Gregory B. Butler sold 8,298 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $77.30, for a total value of $641,435.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ES. Vanguard Group Inc. lifted its position in Eversource Energy by 3.4% during the second quarter. Vanguard Group Inc. now owns 40,172,997 shares of the utilities provider’s stock valued at $3,043,505,000 after buying an additional 1,338,950 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Eversource Energy by 108.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 14,429,007 shares of the utilities provider’s stock valued at $1,093,142,000 after acquiring an additional 7,496,179 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Eversource Energy by 3.1% during the second quarter. Wells Fargo & Company MN now owns 6,308,222 shares of the utilities provider’s stock valued at $477,910,000 after acquiring an additional 189,128 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Eversource Energy by 7.4% during the first quarter. American Century Companies Inc. now owns 4,899,799 shares of the utilities provider’s stock valued at $347,641,000 after acquiring an additional 336,198 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. increased its holdings in shares of Eversource Energy by 1.9% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 4,792,176 shares of the utilities provider’s stock valued at $363,055,000 after acquiring an additional 89,890 shares in the last quarter. 74.17% of the stock is owned by institutional investors.

About Eversource Energy (NYSE:ES)

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

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