Williams Capital Raises Eversource Energy (ES) Price Target to $66.00
Eversource Energy (NYSE:ES) had its price target upped by investment analysts at Williams Capital from $64.00 to $66.00 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Williams Capital’s price objective suggests a potential upside of 6.23% from the company’s previous close.
Several other research firms have also recently weighed in on ES. BidaskClub upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Morgan Stanley boosted their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Janney Montgomery Scott set a $71.00 price target on shares of Eversource Energy and gave the stock a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG cut shares of Eversource Energy from a “buy” rating to a “hold” rating and boosted their price target for the stock from $61.00 to $61.50 in a report on Monday, July 31st. Finally, Credit Suisse Group boosted their price target on shares of Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $64.06.
Shares of Eversource Energy (NYSE ES) opened at 62.13 on Monday. Eversource Energy has a one year low of $50.56 and a one year high of $64.19. The company has a market capitalization of $19.69 billion, a PE ratio of 20.11 and a beta of 0.28. The stock has a 50 day moving average of $61.65 and a 200-day moving average of $61.21.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts forecast that Eversource Energy will post $3.16 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. APG Asset Management N.V. boosted its stake in Eversource Energy by 72.3% in the third quarter. APG Asset Management N.V. now owns 2,556,503 shares of the utilities provider’s stock valued at $154,515,000 after acquiring an additional 1,072,700 shares during the last quarter. PGGM Investments boosted its stake in Eversource Energy by 3.9% in the third quarter. PGGM Investments now owns 479,930 shares of the utilities provider’s stock valued at $29,007,000 after acquiring an additional 18,130 shares during the last quarter. Pensionfund Sabic purchased a new position in Eversource Energy in the third quarter valued at about $1,771,000. Pensionfund DSM Netherlands purchased a new position in Eversource Energy in the third quarter valued at about $3,203,000. Finally, Intl Fcstone Inc. purchased a new position in Eversource Energy in the second quarter valued at about $821,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.
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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