Eversource Energy (NYSE:ES) PT Raised to $66.00

Eversource Energy (NYSE:ES) had its target price upped by analysts at Scotiabank from $57.00 to $66.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective would suggest a potential upside of 0.03% from the company’s current price.

A number of other research firms have also recently commented on ES. Morgan Stanley cut their price target on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Wells Fargo & Company boosted their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets lowered their price target on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.86.

Eversource Energy Stock Up 0.2 %

ES stock traded up $0.14 on Tuesday, reaching $65.98. 83,622 shares of the company traded hands, compared to its average volume of 2,529,236. The firm has a fifty day simple moving average of $61.06 and a 200-day simple moving average of $59.61. The company has a market cap of $23.24 billion, a P/E ratio of -55.86, a price-to-earnings-growth ratio of 2.53 and a beta of 0.59. Eversource Energy has a one year low of $52.03 and a one year high of $68.72. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. Research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Insider Transactions at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The disclosure for this sale can be found here. Insiders have sold 14,015 shares of company stock worth $806,478 in the last 90 days. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eversource Energy

Several institutional investors have recently bought and sold shares of ES. Salem Investment Counselors Inc. boosted its stake in Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after buying an additional 181 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 185 shares in the last quarter. Bar Harbor Wealth Management boosted its position in shares of Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after acquiring an additional 190 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Eversource Energy by 2.5% in the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 192 shares in the last quarter. Finally, Presima Securities ULC grew its holdings in shares of Eversource Energy by 1.5% in the fourth quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock valued at $847,000 after purchasing an additional 200 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Company Profile

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.