Eversource Energy (NYSE:ES) Raised to “Hold” at StockNews.com

Eversource Energy (NYSE:ES) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

ES has been the subject of several other research reports. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Mizuho raised their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group began coverage on Eversource Energy in a research report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 target price for the company. Finally, Morgan Stanley lifted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Stock Performance

Shares of ES opened at $56.95 on Friday. The firm has a fifty day moving average of $62.51 and a 200-day moving average of $63.04. The company has a market cap of $20.87 billion, a price-to-earnings ratio of -36.27, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) 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 in the previous year, the business posted $0.97 EPS. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Hedge Funds Weigh In On Eversource Energy

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates increased its holdings in Eversource Energy by 2.1% in the second quarter. Raymond James & Associates now owns 170,963 shares of the utilities provider’s stock worth $9,695,000 after buying an additional 3,475 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Eversource Energy by 0.8% during the 2nd quarter. Retirement Systems of Alabama now owns 77,704 shares of the utilities provider’s stock worth $4,407,000 after purchasing an additional 603 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Eversource Energy by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after purchasing an additional 354,429 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Eversource Energy by 2.3% in the 2nd quarter. State of Michigan Retirement System now owns 104,433 shares of the utilities provider’s stock valued at $5,922,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Eversource Energy by 1.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 110,227 shares of the utilities provider’s stock worth $6,251,000 after purchasing an additional 1,235 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.