Eversource Energy (ES) Stock Rating Upgraded by Morgan Stanley

Eversource Energy (NYSE:ES) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat reports. The firm currently has a $72.00 price target on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 10.63% from the stock’s previous close.

A number of other research firms also recently commented on ES. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Bank of America began coverage on Eversource Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price on the stock. Williams Capital increased their target price on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, Credit Suisse Group increased their target price on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $64.50.

Shares of Eversource Energy (NYSE ES) traded up $0.87 on Wednesday, reaching $65.08. The company had a trading volume of 1,931,775 shares, compared to its average volume of 1,442,196. The stock has a market capitalization of $20,819.40, a P/E ratio of 21.33, a P/E/G ratio of 3.53 and a beta of 0.31. Eversource Energy has a 1 year low of $52.59 and a 1 year high of $66.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. sell-side analysts anticipate that Eversource Energy will post 3.15 earnings per share for the current year.

In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $64.68, for a total transaction of $653,138.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new stake in shares of Eversource Energy in the 3rd quarter worth approximately $716,000. GSA Capital Partners LLP bought a new stake in shares of Eversource Energy in the 3rd quarter worth approximately $239,000. Moors & Cabot Inc. lifted its holdings in shares of Eversource Energy by 98.8% in the 3rd quarter. Moors & Cabot Inc. now owns 38,207 shares of the utilities provider’s stock worth $2,313,000 after purchasing an additional 18,989 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Eversource Energy in the 3rd quarter worth approximately $597,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Eversource Energy by 5.3% in the 3rd quarter. California Public Employees Retirement System now owns 790,729 shares of the utilities provider’s stock worth $47,792,000 after purchasing an additional 39,529 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Eversource Energy (NYSE:ES)