Eversource Energy (NYSE:ES) Price Target Increased to $73.00 by Analysts at Mizuho

Eversource Energy (NYSE:ES) had its target price hoisted by equities research analysts at Mizuho from $62.00 to $73.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target suggests a potential upside of 9.91% from the stock’s current price.

Other analysts also recently issued reports about the company. BMO Capital Markets dropped their price objective on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, August 19th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley raised their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $69.71.

Eversource Energy Stock Performance

Shares of ES stock traded down $1.31 during trading on Wednesday, reaching $66.42. 1,218,290 shares of the company’s stock were exchanged, compared to its average volume of 2,447,240. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $23.40 billion, a PE ratio of -56.35, a PEG ratio of 2.54 and a beta of 0.61. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. The firm’s fifty day moving average price is $66.50 and its 200-day moving average price is $61.72.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Eversource Energy will post 4.57 EPS for the current year.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eversource Energy

Institutional investors have recently bought and sold shares of the stock. Lynx Investment Advisory purchased a new position in shares of Eversource Energy in the 2nd quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in Eversource Energy during the 1st quarter valued at approximately $27,000. Versant Capital Management Inc increased its position in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after buying an additional 201 shares in the last quarter. Salem Investment Counselors Inc. increased its position in Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in Eversource Energy by 83.6% during the 1st quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after buying an additional 276 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

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.