Scotiabank Cuts Eversource Energy (NYSE:ES) Price Target to $55.00

Eversource Energy (NYSE:ES) had its price objective lowered by equities researchers at Scotiabank from $56.00 to $55.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential downside of 12.74% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research report on Monday. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday. Jefferies Financial Group decreased their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Barclays decreased their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $67.00.

Eversource Energy Stock Up 5.5 %

ES traded up $3.31 on Thursday, hitting $63.03. 2,567,945 shares of the company were exchanged, compared to its average volume of 3,007,676. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The company has a market cap of $23.09 billion, a PE ratio of -40.20, a PEG ratio of 2.25 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The stock’s fifty day moving average is $57.89 and its 200-day moving average is $62.68.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Equities research analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ES. Mizuho Bank Ltd. bought a new stake in Eversource Energy during the fourth quarter worth $26,000. Kestra Investment Management LLC bought a new position in shares of Eversource Energy in the 4th quarter valued at $29,000. Assetmark Inc. lifted its stake in shares of Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Eversource Energy in the 3rd quarter valued at $31,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Eversource Energy in the 3rd quarter valued at $32,000. 79.99% of the stock is currently owned by 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.