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

Eversource Energy (NYSE:ES) had its price objective dropped by investment analysts at BMO Capital Markets from $74.00 to $72.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 9.51% from the company’s current price.

Several other equities analysts have also commented on the stock. Barclays upped their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Bank of America upped their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Mizuho upped their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $70.07.

Eversource Energy Stock Performance

Eversource Energy stock opened at $65.75 on Tuesday. The firm has a 50 day simple moving average of $66.42 and a 200-day simple moving average of $62.18. 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 current ratio of 0.75 and a quick ratio of 0.66. The stock 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.

Eversource Energy (NYSE:ES) last posted its quarterly 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. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts expect that Eversource Energy will post 4.57 EPS for the current year.

Insider Buying and Selling at Eversource Energy

In related news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction on Friday, August 9th. The shares were 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 $639,464.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction on Friday, August 9th. The shares were 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 $639,464.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SageView Advisory Group LLC lifted its stake in shares of Eversource Energy by 9.4% in the 4th quarter. SageView Advisory Group LLC now owns 9,293 shares of the utilities provider’s stock worth $574,000 after acquiring an additional 801 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Eversource Energy by 15.6% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,375 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 590 shares during the period. HighPoint Advisor Group LLC acquired a new stake in shares of Eversource Energy in the 4th quarter worth $282,000. Nomura Holdings Inc. acquired a new stake in shares of Eversource Energy in the 4th quarter worth $434,000. Finally, CWM LLC lifted its stake in shares of Eversource Energy by 2.7% in the 1st quarter. CWM LLC now owns 30,082 shares of the utilities provider’s stock worth $1,798,000 after acquiring an additional 787 shares during the period. 79.99% of the stock is owned by hedge funds and other 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.