Eversource Energy (NYSE:ES) Price Target Raised to $72.00

Eversource Energy (NYSE:ES) had its price objective hoisted by research analysts at Barclays from $69.00 to $72.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential upside of 9.51% from the stock’s current price.

A number of other brokerages also recently issued reports on ES. Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, Morgan Stanley raised their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Performance

Shares of ES stock opened at $65.75 on Tuesday. The company has a market cap of $23.16 billion, a price-to-earnings ratio of -55.72, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The stock has a 50 day simple moving average of $66.42 and a 200-day simple moving average of $62.18. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01. 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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion during 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%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. On average, equities analysts forecast that Eversource Energy will post 4.57 EPS for the current year.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the firm’s 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 owns 9,032 shares in the company, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Penelope M. Conner sold 500 shares of Eversource Energy 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 owns 9,847 shares in the company, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction 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 completion of the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ES. Lynx Investment Advisory acquired a new position in Eversource Energy in the second quarter valued at $25,000. Rise Advisors LLC acquired a new position in Eversource Energy in the first quarter valued at $27,000. Salem Investment Counselors Inc. boosted its holdings in Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Eversource Energy by 83.6% during the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 276 shares in 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.