Eversource Energy (NYSE:ES) Given New $70.00 Price Target at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective reduced by BMO Capital Markets from $73.00 to $70.00 in a report issued on Monday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley cut their target price 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. Bank of America raised shares of Eversource Energy from an underperform rating to a neutral rating and set a $61.00 target price on the stock in a report on Tuesday, June 25th. Wells Fargo & Company raised their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an overweight rating in a report on Friday, August 2nd. StockNews.com cut shares of Eversource Energy from a hold rating to a sell rating in a report on Saturday, July 27th. Finally, Scotiabank cut their target price on shares of Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Eversource Energy currently has an average rating of Hold and a consensus price target of $67.86.

Eversource Energy Stock Up 0.9 %

NYSE:ES opened at $67.14 on Monday. The company has a market capitalization of $23.65 billion, a price-to-earnings ratio of -56.90, 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 stock has a 50-day simple moving average of $61.51 and a 200 day simple moving average of $59.79. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The business 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 for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.00 earnings per share. Sell-side analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the sale, the executive vice president now directly owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. Insiders have sold a total of 14,015 shares of company stock valued at $806,478 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. grew its position in Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares in the last quarter. Addison Advisors LLC grew its position in 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 purchasing an additional 185 shares in the last quarter. Bar Harbor Wealth Management grew its position in Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 190 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after purchasing an additional 192 shares in the last quarter. Finally, Presima Securities ULC grew its position in Eversource Energy by 1.5% during the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock worth $847,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

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.