Scotiabank Issues Pessimistic Forecast for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its price objective dropped by investment analysts at Scotiabank from $56.00 to $55.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the utilities provider’s stock. Scotiabank’s price target points to a potential downside of 10.68% from the company’s current price.

A number of other analysts have also issued reports on ES. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Barclays lowered their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Guggenheim restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group lowered their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.00.

Eversource Energy Trading Down 1.5 %

Shares of NYSE ES opened at $61.57 on Thursday. The business’s 50 day moving average is $57.91 and its two-hundred day moving average is $62.68. 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 $54.75 and a 1-year high of $69.01. The stock has a market capitalization of $22.56 billion, a P/E ratio of -39.22, a PEG ratio of 2.25 and a beta of 0.62.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. As a group, research analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds have recently modified their holdings of ES. Exchange Traded Concepts LLC purchased a new stake in shares of Eversource Energy during the 3rd quarter worth about $114,000. Creative Planning lifted its stake in Eversource Energy by 6.7% in the 3rd quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock valued at $5,863,000 after buying an additional 5,417 shares in the last quarter. Swedbank AB lifted its stake in Eversource Energy by 2.2% in the 3rd quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock valued at $35,684,000 after buying an additional 11,111 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new position in Eversource Energy in the 3rd quarter valued at about $226,000. Finally, ZWJ Investment Counsel Inc. lifted its stake in Eversource Energy by 24.0% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 260,600 shares of the utilities provider’s stock valued at $17,734,000 after buying an additional 50,483 shares in the last quarter. 79.99% of the stock is 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.