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

Eversource Energy (NYSE:ES) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

ES has been the subject of a number of other research reports. Morgan Stanley raised their price objective 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. Bank of America raised their price target on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets dropped their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Barclays raised their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Performance

Shares of ES stock opened at $64.55 on Wednesday. The company’s fifty day moving average price is $66.53 and its 200-day moving average price is $62.64. The stock has a market cap of $23.07 billion, a PE ratio of -239.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 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 quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. On average, equities analysts expect that Eversource Energy will post 4.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction of $53,382.50. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eversource Energy

Several large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Eversource Energy by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,968 shares of the utilities provider’s stock valued at $52,536,000 after purchasing an additional 3,407 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Eversource Energy during the 1st quarter valued at about $461,000. First Trust Direct Indexing L.P. raised its position in shares of Eversource Energy by 53.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,955 shares of the utilities provider’s stock valued at $416,000 after buying an additional 2,420 shares in the last quarter. SpiderRock Advisors LLC bought a new position in shares of Eversource Energy in the 1st quarter valued at about $264,000. Finally, Van ECK Associates Corp grew its position in Eversource Energy by 4.7% in the first quarter. Van ECK Associates Corp now owns 82,752 shares of the utilities provider’s stock worth $4,946,000 after acquiring an additional 3,707 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

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.