Eversource Energy (NYSE:ES) Upgraded to “Hold” by StockNews.com

by · The Cerbat Gem

Eversource Energy (NYSE:ES – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages also recently weighed in on ES. Morgan Stanley upped their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company raised their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday. Barclays increased their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Scotiabank boosted their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.07.

Read Our Latest Stock Report on Eversource Energy

Eversource Energy Price Performance

ES stock traded down $0.75 during midday trading on Thursday, reaching $65.00. The company had a trading volume of 1,624,297 shares, compared to its average volume of 2,424,776. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The stock has a 50 day moving average price of $66.42 and a 200-day moving average price of $62.19. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of -55.08, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts expect that Eversource Energy will post 4.57 earnings per share for the current year.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction 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 completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ClearBridge Investments Ltd acquired a new stake in Eversource Energy in the 1st quarter valued at $156,093,000. Zimmer Partners LP increased its position in shares of Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after acquiring an additional 1,524,341 shares during the last quarter. M&G Plc bought a new position in Eversource Energy in the 1st quarter valued at about $83,539,000. Finally, BROOKFIELD Corp ON acquired a new position in Eversource Energy during the 1st quarter valued at about $65,389,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

(Get Free Report)

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.

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