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

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

Other analysts also recently issued research reports about the stock. Barclays increased their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday. BMO Capital Markets lowered their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday. Mizuho increased 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. Scotiabank increased their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley increased their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Trading Up 1.7 %

ES opened at $66.13 on Thursday. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. 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 company has a fifty day moving average of $66.45 and a 200-day moving average of $62.25. The stock has a market cap of $23.29 billion, a PE ratio of -56.04, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

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

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, 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 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 firm’s stock in a transaction on 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 owns 9,847 shares in the company, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on 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 approximately $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors have recently added to or reduced their stakes in ES. Lynx Investment Advisory acquired a new stake in Eversource Energy in the second quarter worth about $25,000. Rise Advisors LLC acquired a new stake in Eversource Energy in the first quarter worth about $27,000. Salem Investment Counselors Inc. boosted its holdings in Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 181 shares in the last quarter. UMB Bank n.a. boosted its holdings in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 198 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 276 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.