Argus Upgrades Eversource Energy (NYSE:ES) to Strong-Buy

Eversource Energy (NYSE:ES) was upgraded by stock analysts at Argus to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently weighed in on ES. JPMorgan Chase & Co. increased their price objective on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Wells Fargo & Company upgraded shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $71.00 to $78.00 in a research report on Tuesday, February 17th. Mizuho lifted their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.90.

Eversource Energy Stock Performance

Shares of ES opened at $67.42 on Tuesday. The firm has a market capitalization of $25.32 billion, a P/E ratio of 14.75, a PEG ratio of 2.93 and a beta of 0.76. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59. Eversource Energy has a one year low of $52.28 and a one year high of $76.41. The business has a fifty day moving average of $71.47 and a 200 day moving average of $70.00.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.94 billion. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.Eversource Energy’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Cotton M. Cleveland sold 2,581 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the transaction, the insider directly owned 79,364 shares in the company, valued at $5,941,982.68. This represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John M. Moreira sold 7,800 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $73.90, for a total transaction of $576,420.00. Following the sale, the executive vice president directly owned 43,269 shares of the company’s stock, valued at approximately $3,197,579.10. This trade represents a 15.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 16,381 shares of company stock valued at $1,211,079. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eversource Energy

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Eversource Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock valued at $3,198,996,000 after acquiring an additional 697,829 shares in the last quarter. State Street Corp boosted its holdings in shares of Eversource Energy by 4.7% during the 4th quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock valued at $1,886,119,000 after purchasing an additional 1,265,802 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Eversource Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock valued at $646,233,000 after purchasing an additional 194,781 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Eversource Energy by 61.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after purchasing an additional 3,645,555 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its position in shares of Eversource Energy by 6.5% during the third quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock valued at $526,919,000 after purchasing an additional 454,658 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.