Eversource Energy (NYSE:ES) Price Target Raised to $66.00 at BMO Capital Markets

Eversource Energy (NYSE:ES) had its target price boosted by research analysts at BMO Capital Markets from $65.00 to $66.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price points to a potential upside of 9.98% from the company’s current price.

ES has been the topic of a number of other reports. Citigroup raised their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $54.00 to $62.00 in a report on Thursday, February 15th. Argus decreased their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Finally, Barclays decreased their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.23.

Eversource Energy Price Performance

ES traded down $0.74 during trading on Friday, reaching $60.01. The stock had a trading volume of 3,430,099 shares, compared to its average volume of 2,899,421. The stock has a market cap of $21.05 billion, a PE ratio of -50.86, a PEG ratio of 3.29 and a beta of 0.57. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. Eversource Energy has a one year low of $52.03 and a one year high of $77.97. The business has a 50-day moving average of $59.15 and a 200-day moving average of $58.07.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The firm’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 earnings per share. As a group, equities research analysts anticipate that Eversource Energy will post 4.49 EPS for the current fiscal year.

Insider Transactions at Eversource Energy

In related news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the transaction, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Hedge funds have recently modified their holdings of the business. Easterly Investment Partners LLC boosted its holdings in Eversource Energy by 356.8% in the 1st quarter. Easterly Investment Partners LLC now owns 176,594 shares of the utilities provider’s stock worth $10,555,000 after buying an additional 137,935 shares during the period. Central Pacific Bank Trust Division bought a new position in Eversource Energy in the 1st quarter worth $659,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Eversource Energy by 174.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,306 shares of the utilities provider’s stock worth $257,000 after buying an additional 2,736 shares during the period. Salomon & Ludwin LLC boosted its holdings in Eversource Energy by 4,187.5% in the 1st quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock worth $41,000 after buying an additional 670 shares during the period. Finally, Financial Counselors Inc. bought a new position in Eversource Energy in the 1st quarter worth $831,000. Institutional investors own 79.99% of the company’s stock.

About Eversource Energy

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