Mizuho Forecasts Strong Price Appreciation for Eversource Energy (NYSE:ES) Stock

Eversource Energy (NYSE:ESGet Free Report) had its price objective lifted by Mizuho from $68.00 to $72.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s target price points to a potential upside of 13.69% from the stock’s previous close.

Several other research analysts also recently commented on ES. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Wall Street Zen upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Finally, BMO Capital Markets boosted their price objective on Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research report on Monday, April 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.67.

View Our Latest Report on Eversource Energy

Eversource Energy Stock Performance

Shares of NYSE ES opened at $63.33 on Wednesday. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. The stock’s 50-day moving average is $62.45 and its 200 day moving average is $60.20. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 2.32 and a beta of 0.63.

Eversource Energy (NYSE:ESGet Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the business posted $1.49 EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president now owns 10,988 shares in the company, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently modified their holdings of ES. Mizuho Bank Ltd. purchased a new position in shares of Eversource Energy during the fourth quarter valued at about $26,000. Assetmark Inc. boosted its position in Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares in the last quarter. Pinney & Scofield Inc. purchased a new position in shares of Eversource Energy during the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC grew its stake in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the period. Finally, Rossby Financial LCC bought a new position in shares of Eversource Energy in the 1st quarter worth about $34,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Eversource Energy (NYSE:ES)

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