Eversource Energy (NYSE:ES) Now Covered by Analysts at Barclays

Research analysts at Barclays assumed coverage on shares of Eversource Energy (NYSE:ES) in a report issued on Friday. The brokerage set an “equal weight” rating and a $76.00 price target on the utilities provider’s stock. Barclays‘s price objective would indicate a potential upside of 5.59% from the company’s previous close.

ES has been the topic of several other reports. Mizuho upped their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. HSBC began coverage on shares of Eversource Energy in a research note on Thursday, October 22nd. They set a “hold” rating and a $70.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. BMO Capital Markets decreased their price target on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $73.17.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $71.98 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $27.11 billion, a P/E ratio of 18.99, a P/E/G ratio of 3.07 and a beta of 0.66. Eversource Energy has a 12 month low of $62.72 and a 12 month high of $76.57. The stock has a 50 day moving average of $67.37 and a 200-day moving average of $70.03.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Eversource Energy had a return on equity of 10.68% and a net margin of 10.38%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the business earned $1.19 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities research analysts predict that Eversource Energy will post 4.63 EPS for the current year.

Institutional Investors Weigh In On Eversource Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Elevation Wealth Partners LLC raised its holdings in Eversource Energy by 220.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after buying an additional 240 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Eversource Energy during the 2nd quarter worth approximately $26,000. First Bancorp Inc ME bought a new stake in Eversource Energy during the 2nd quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in Eversource Energy in the 2nd quarter valued at approximately $36,000. Finally, Pathway Financial Advisers LLC acquired a new position in Eversource Energy in the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.