Eversource Energy (NYSE:ES) Price Target Lowered to $67.00 at Morgan Stanley

Eversource Energy (NYSE:ES) had its target price dropped by investment analysts at Morgan Stanley from $70.00 to $67.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 15.62% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Scotiabank cut their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Argus cut their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. Wells Fargo & Company raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.86.

Eversource Energy Stock Performance

Shares of NYSE ES traded up $0.77 during trading on Monday, reaching $57.95. 97,546 shares of the company traded hands, compared to its average volume of 2,624,073. The firm has a 50 day simple moving average of $59.48 and a 200-day simple moving average of $58.82. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $20.41 billion, a PE ratio of -49.11, a P/E/G ratio of 2.37 and a beta of 0.60. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.41 EPS. Equities research analysts anticipate that Eversource Energy will post 4.53 earnings per share for the current year.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ES. Kestra Advisory Services LLC grew its stake in shares of Eversource Energy by 15.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 14,241 shares of the utilities provider’s stock worth $828,000 after purchasing an additional 1,909 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Eversource Energy during the 3rd quarter valued at approximately $301,000. Envestnet Asset Management Inc. lifted its position in shares of Eversource Energy by 80.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 311,122 shares of the utilities provider’s stock valued at $18,092,000 after buying an additional 138,838 shares in the last quarter. LPL Financial LLC lifted its position in shares of Eversource Energy by 2.7% during the 3rd quarter. LPL Financial LLC now owns 236,029 shares of the utilities provider’s stock valued at $13,725,000 after buying an additional 6,100 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of Eversource Energy by 17.4% during the 3rd quarter. Mariner LLC now owns 38,483 shares of the utilities provider’s stock valued at $2,238,000 after buying an additional 5,713 shares in the last quarter. 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.