Eversource Energy (NYSE:ES) Stock Rating Upgraded by Janney Montgomery Scott

Eversource Energy (NYSE:ES) was upgraded by Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has a $79.00 price objective on the utilities provider’s stock. Janney Montgomery Scott’s target price indicates a potential upside of 19.80% from the stock’s previous close.

ES has been the topic of several other research reports. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Thursday, November 6th. TD Cowen assumed coverage on shares of Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Mizuho restated a “neutral” rating and issued a $68.00 target price (down from $81.00) on shares of Eversource Energy in a research report on Thursday, November 20th. Finally, Scotiabank lowered their price target on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Thursday, November 20th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.55.

Eversource Energy Stock Performance

Shares of ES stock opened at $65.94 on Monday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. The business has a 50 day simple moving average of $71.24 and a 200 day simple moving average of $66.95.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Insider Activity

In related news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Eversource Energy

A number of hedge funds have recently modified their holdings of the business. Private Advisor Group LLC lifted its stake in Eversource Energy by 1.8% in the 1st quarter. Private Advisor Group LLC now owns 15,595 shares of the utilities provider’s stock worth $969,000 after acquiring an additional 270 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Eversource Energy by 2.1% in the first quarter. Allianz Asset Management GmbH now owns 108,498 shares of the utilities provider’s stock worth $6,739,000 after purchasing an additional 2,201 shares in the last quarter. Choreo LLC boosted its holdings in shares of Eversource Energy by 11.8% during the first quarter. Choreo LLC now owns 5,831 shares of the utilities provider’s stock worth $362,000 after purchasing an additional 616 shares during the period. Cetera Investment Advisers grew its position in Eversource Energy by 16.4% during the first quarter. Cetera Investment Advisers now owns 113,127 shares of the utilities provider’s stock valued at $7,026,000 after purchasing an additional 15,939 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in Eversource Energy by 9.5% in the 1st quarter. HB Wealth Management LLC now owns 12,416 shares of the utilities provider’s stock valued at $771,000 after buying an additional 1,079 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

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.