BMO Capital Markets Increases Eversource Energy (NYSE:ES) Price Target to $74.00

Eversource Energy (NYSE:ES) had its price target increased by research analysts at BMO Capital Markets from $70.00 to $74.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 13.18% from the company’s previous close.

Other analysts have also issued reports about the company. Scotiabank raised their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Mizuho boosted their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday. Bank of America boosted their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Barclays boosted their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $70.00.

Eversource Energy Stock Down 0.8 %

ES opened at $65.38 on Thursday. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of -55.41, a P/E/G ratio of 2.54 and a beta of 0.61. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The business has a 50 day moving average of $66.63 and a 200-day moving average of $61.83. 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 (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. As a group, sell-side analysts anticipate that Eversource Energy will post 4.57 earnings per share 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 dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the company’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 completion of the sale, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Institutional Trading of Eversource Energy

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

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.