Eversource Energy (NYSE:ES) PT Raised to $73.00 at Mizuho

Eversource Energy (NYSE:ES) had its target price raised by analysts at Mizuho from $62.00 to $73.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target would suggest a potential upside of 9.91% from the company’s previous close.

Other equities analysts also recently issued reports about the company. BMO Capital Markets lowered their price objective on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, August 19th. Morgan Stanley lifted their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Scotiabank lifted their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.71.

Eversource Energy Stock Performance

Shares of ES stock traded down $1.31 on Wednesday, reaching $66.42. The stock had a trading volume of 1,218,290 shares, compared to its average volume of 2,447,240. The stock has a market cap of $23.40 billion, a P/E ratio of -56.35, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The company has a 50 day simple moving average of $66.50 and a 200 day simple moving average of $61.72.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. Equities research analysts expect that Eversource Energy will post 4.57 EPS for the current year.

Insider Activity

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

Institutional Trading of Eversource Energy

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Eversource Energy by 24.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock valued at $4,232,000 after acquiring an additional 13,950 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in Eversource Energy by 38.3% in the first quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock valued at $3,394,000 after buying an additional 15,714 shares in the last quarter. Great Oak Capital Partners LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $1,047,000. Cibc World Markets Corp grew its position in shares of Eversource Energy by 133.3% in the fourth quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock valued at $2,775,000 after purchasing an additional 25,688 shares during the last quarter. Finally, Ethic Inc. boosted its position in Eversource Energy by 23.1% during the fourth quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock worth $10,167,000 after acquiring an additional 30,890 shares during the last quarter. Institutional investors and hedge funds 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.