Eversource Energy (NYSE:ES) had its price target lowered by analysts at Morgan Stanley from $67.00 to $63.00 in a research report issued on Friday. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 6.15% from the company’s current price.
ES has been the topic of several other research reports. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, January 2nd. Credit Suisse Group downgraded Eversource Energy from a “neutral” rating to an “underperform” rating and cut their target price for the company from $63.00 to $59.00 in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital lifted their target price on Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Bank of America initiated coverage on Eversource Energy in a research note on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price on the stock. Finally, UBS Group initiated coverage on Eversource Energy in a research note on Friday. They set a “neutral” rating and a $66.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.63.
Shares of Eversource Energy (ES) traded down $0.81 during trading on Friday, reaching $59.35. The company’s stock had a trading volume of 6,519,772 shares, compared to its average volume of 2,530,000. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The company has a market cap of $18,810.00, a P/E ratio of 19.27, a P/E/G ratio of 3.16 and a beta of 0.27. Eversource Energy has a 52-week low of $54.55 and a 52-week high of $66.15.
In other news, COO Werner J. Schweiger sold 10,098 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Eversource Energy by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,755 shares of the utilities provider’s stock worth $55,106,000 after acquiring an additional 10,934 shares during the last quarter. Troy Asset Management Ltd grew its holdings in shares of Eversource Energy by 14.4% in the 3rd quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock worth $3,354,000 after acquiring an additional 7,000 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Eversource Energy by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock worth $6,516,000 after acquiring an additional 21,833 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Eversource Energy by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 658,814 shares of the utilities provider’s stock worth $39,997,000 after acquiring an additional 6,929 shares during the last quarter. Finally, Commerce Bank grew its holdings in shares of Eversource Energy by 1.2% in the 3rd quarter. Commerce Bank now owns 346,419 shares of the utilities provider’s stock worth $20,938,000 after acquiring an additional 4,160 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.
WARNING: This piece was first published by American Market News and is owned by of American Market News. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/02/eversource-energy-es-price-target-lowered-to-63-00-at-morgan-stanley.html.
About Eversource Energy
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, Massachusetts, and New Hampshire and the regulated electric generation businesses.
