Jefferies Financial Group Issues Pessimistic Forecast for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its target price cut by stock analysts at Jefferies Financial Group from $52.00 to $47.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the utilities provider’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 18.55% from the company’s current price.

Other research analysts have also issued research reports about the company. Mizuho increased their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Scotiabank cut Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their target price for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. BMO Capital Markets dropped their price objective 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. Finally, Barclays dropped their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Trading Down 0.9 %

Shares of Eversource Energy stock traded down $0.53 on Tuesday, reaching $57.70. 3,574,057 shares of the company’s stock were exchanged, compared to its average volume of 2,519,779. The company has a market capitalization of $21.14 billion, a P/E ratio of -36.75, a price-to-earnings-growth ratio of 2.13 and a beta of 0.62. Eversource Energy has a 52 week low of $52.71 and a 52 week high of $69.01. The firm’s 50-day moving average is $58.93 and its two-hundred day moving average is $62.92. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last issued its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. Sell-side analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in shares of Eversource Energy in the 3rd quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Eversource Energy in the third quarter valued at $32,000. UMB Bank n.a. raised its stake in shares of Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares during the period. Larson Financial Group LLC raised its stake in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after buying an additional 350 shares during the period. Finally, Asset Dedication LLC bought a new stake in shares of Eversource Energy in the fourth quarter valued at $41,000. 79.99% of the stock is currently 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.