Eversource Energy (NYSE:ES) Price Target Raised to $78.00

Eversource Energy (NYSE:ES) had its price target upped by Morgan Stanley from $74.00 to $78.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 1.73% from the company’s current price.

Several other research firms have also issued reports on ES. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. UBS Group upped their price objective on Eversource Energy from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. KeyCorp assumed coverage on Eversource Energy in a research note on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 price objective for the company. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, March 18th. Finally, Bank of America downgraded Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 target price on the stock. in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.58.

Shares of NYSE:ES opened at $76.67 on Friday. The firm has a market cap of $24.28 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 3.96 and a beta of 0.26. Eversource Energy has a 12-month low of $53.40 and a 12-month high of $77.73. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.50 and a quick ratio of 0.44.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Eversource Energy had a return on equity of 9.43% and a net margin of 12.50%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, research analysts anticipate that Eversource Energy will post 3.45 EPS for the current year.

In related news, EVP Leon J. Olivier sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $72.95, for a total value of $510,650.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. BB&T Corp raised its holdings in shares of Eversource Energy by 0.7% in the first quarter. BB&T Corp now owns 21,097 shares of the utilities provider’s stock worth $1,497,000 after buying an additional 149 shares during the period. Kaizen Advisory LLC grew its stake in Eversource Energy by 24.7% in the fourth quarter. Kaizen Advisory LLC now owns 838 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 166 shares in the last quarter. Cetera Advisors LLC grew its stake in Eversource Energy by 2.3% in the first quarter. Cetera Advisors LLC now owns 7,576 shares of the utilities provider’s stock worth $537,000 after purchasing an additional 172 shares in the last quarter. Somerset Trust Co grew its stake in Eversource Energy by 0.7% in the first quarter. Somerset Trust Co now owns 27,362 shares of the utilities provider’s stock worth $1,942,000 after purchasing an additional 177 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in Eversource Energy by 1.4% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,921 shares of the utilities provider’s stock worth $905,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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