Eversource Energy (NYSE:ES) had its price objective raised by Morgan Stanley from $64.00 to $66.00 in a research note issued to investors on Thursday. They currently have an equal weight rating on the utilities provider’s stock.
Other equities analysts also recently issued research reports about the stock. Janney Montgomery Scott set a $71.00 price target on shares of Eversource Energy and gave the company a buy rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Eversource Energy from a hold rating to a buy rating and set a $70.00 price target for the company in a research note on Tuesday, June 13th. Barclays PLC reaffirmed an equal weight rating and set a $66.00 price target (up previously from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Deutsche Bank AG downgraded shares of Eversource Energy from a buy rating to a hold rating and raised their price target for the company from $61.00 to $61.50 in a research note on Monday, July 31st. Finally, Credit Suisse Group reaffirmed a hold rating and set a $59.00 price target on shares of Eversource Energy in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $62.95.
Shares of Eversource Energy (NYSE:ES) traded up 0.47% on Thursday, hitting $62.15. The stock had a trading volume of 594,399 shares. The company has a 50 day moving average of $60.97 and a 200-day moving average of $59.60. Eversource Energy has a 12-month low of $50.56 and a 12-month high of $63.34. The firm has a market capitalization of $19.69 billion, a P/E ratio of 20.11 and a beta of 0.28.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. Equities analysts predict that Eversource Energy will post $3.15 EPS for the current fiscal year.
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In related news, VP Werner J. Schweiger sold 48,544 shares of Eversource Energy stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $61.01, for a total transaction of $2,961,669.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in ES. Brookfield Asset Management Inc. purchased a new position in shares of Eversource Energy during the first quarter worth $106,000. Advisory Services Network LLC purchased a new position in shares of Eversource Energy during the first quarter worth $112,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock worth $119,000 after buying an additional 400 shares in the last quarter. Sun Life Financial INC increased its position in shares of Eversource Energy by 23,040.0% in the second quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after buying an additional 2,304 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in shares of Eversource Energy by 168.9% in the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock worth $147,000 after buying an additional 1,520 shares in the last quarter. 71.31% of the stock is owned by institutional investors and hedge funds.
Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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