BMO Capital Markets Increases Eversource Energy (NYSE:ES) Price Target to $74.00

Eversource Energy (NYSE:ES) had its price target lifted by BMO Capital Markets from $70.00 to $74.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 12.09% from the company’s current price.

ES has been the subject of a number of other reports. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays boosted their price objective on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Wells Fargo & Company boosted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Scotiabank upped their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and a consensus price target of $70.00.

Eversource Energy Price Performance

Shares of NYSE ES traded down $0.66 during trading on Thursday, reaching $66.02. The company had a trading volume of 389,023 shares, compared to its average volume of 2,444,439. The stock has a 50-day moving average price of $66.57 and a two-hundred day moving average price of $61.75. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. The stock has a market capitalization of $23.26 billion, a PE ratio of -55.95, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. As a group, sell-side analysts predict that Eversource Energy will post 4.57 earnings per share for the current year.

Insider Activity at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

Several large investors have recently modified their holdings of ES. ClearBridge Investments Ltd purchased a new position in shares of Eversource Energy in the 1st quarter worth $156,093,000. Zimmer Partners LP grew its position in Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after acquiring an additional 2,231,585 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the period. M&G Plc bought a new stake in shares of Eversource Energy in the 1st quarter valued at about $83,539,000. Finally, BROOKFIELD Corp ON purchased a new position in shares of Eversource Energy in the 1st quarter valued at $65,389,000. 79.99% of the stock is owned by institutional investors.

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.