Eversource Energy (ES) Given Consensus Recommendation of “Hold” by Analysts
Shares of Eversource Energy (NYSE:ES) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $62.95.
ES has been the topic of several recent research reports. Citigroup Inc. raised their target price on Eversource Energy from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. BMO Capital Markets raised their target price on Eversource Energy from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Friday, May 5th. Barclays PLC restated an “equal weight” rating and set a $66.00 target price (up from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, June 5th. Finally, Credit Suisse Group restated a “hold” rating and set a $59.00 target price on shares of Eversource Energy in a report on Tuesday, June 6th.
Shares of Eversource Energy (NYSE ES) traded up 0.96% during midday trading on Friday, hitting $63.06. The stock had a trading volume of 1,481,023 shares. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $63.34. The firm has a 50-day moving average price of $61.09 and a 200-day moving average price of $59.89. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 20.41 and a beta of 0.28.
Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Eversource Energy will post $3.15 EPS for the current fiscal year.
In related news, VP Werner J. Schweiger sold 36,736 shares of Eversource Energy stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $2,277,632.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. purchased a new stake in Eversource Energy during the first quarter worth $106,000. Advisory Services Network LLC purchased a new stake in Eversource Energy during the first quarter worth $112,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 during the period. Sun Life Financial INC increased its stake in 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 during the period. Finally, NEXT Financial Group Inc increased its stake in 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 during the period. 71.31% of the stock is currently owned by institutional investors and hedge funds.
About Eversource Energy
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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