Eversource Energy (NYSE:ES) Receives “Buy” Rating from Guggenheim

Eversource Energy (NYSE:ES)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a research note issued on Monday,Benzinga reports.

Several other research firms also recently issued reports on ES. BMO Capital Markets cut their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company 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. Barclays cut their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group lowered their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $59.42 on Monday. The business’s 50 day simple moving average is $57.99 and its 200-day simple moving average is $62.74. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The firm has a market capitalization of $21.77 billion, a price-to-earnings ratio of -37.85, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. Eversource Energy has a 12 month low of $52.71 and a 12 month high of $69.01.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy in the third quarter worth $808,783,000. Amundi increased its holdings in Eversource Energy by 32.2% in the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock valued at $367,691,000 after purchasing an additional 1,579,818 shares in the last quarter. National Bank of Canada FI raised its position in Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after purchasing an additional 612,421 shares during the period. Nordea Investment Management AB lifted its stake in shares of Eversource Energy by 41.7% during the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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.