Eversource Energy (NYSE:ES) Stock Rating Upgraded by StockNews.com

Eversource Energy (NYSE:ES) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts also recently commented on the company. Jefferies Financial Group started coverage on Eversource Energy in a research report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price objective for the company. Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their price objective for the company from $66.00 to $56.00 in a research note on Thursday, December 12th. Barclays lifted their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley increased their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Stock Performance

Shares of ES opened at $56.95 on Friday. The company has a market capitalization of $20.87 billion, a PE ratio of -36.27, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a one year low of $52.09 and a one year high of $69.01. The company’s fifty day moving average price is $62.51 and its 200 day moving average price is $63.04.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business posted $0.97 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Eversource Energy by 4.5% in the third quarter. Principal Financial Group Inc. now owns 413,874 shares of the utilities provider’s stock worth $28,164,000 after acquiring an additional 17,654 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Eversource Energy by 8.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,954 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 458 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Eversource Energy by 518.1% during the 3rd quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock worth $32,683,000 after buying an additional 402,574 shares in the last quarter. Tidal Investments LLC boosted its position in Eversource Energy by 5.2% in the 3rd quarter. Tidal Investments LLC now owns 13,849 shares of the utilities provider’s stock valued at $942,000 after buying an additional 689 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at $270,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.