StockNews.com Upgrades Eversource Energy (NYSE:ES) to Hold

Eversource Energy (NYSE:ES) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also issued reports about the stock. Mizuho raised their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Barclays raised their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Scotiabank raised their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. 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. Finally, BMO Capital Markets lowered their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.46.

Eversource Energy Trading Up 0.4 %

Shares of ES opened at $60.82 on Tuesday. 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 1 year low of $52.09 and a 1 year high of $69.01. The company has a 50 day simple moving average of $65.63 and a two-hundred day simple moving average of $62.86. The firm has a market cap of $22.28 billion, a P/E ratio of -38.74, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $0.97 earnings per share. Eversource Energy’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Eversource Energy in the third quarter valued at about $368,000. Blueshift Asset Management LLC purchased a new stake in shares of Eversource Energy during the third quarter worth about $319,000. Avestar Capital LLC purchased a new stake in shares of Eversource Energy during the third quarter worth about $201,000. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy during the third quarter worth about $31,000. Finally, FMR LLC grew its stake in shares of Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after acquiring an additional 185,381 shares during the last quarter. Hedge funds and other institutional investors 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.