Janney Montgomery Scott set a $71.00 target price on Eversource Energy (NYSE:ES) in a research note published on Monday, July 31st. The firm currently has a buy rating on the utilities provider’s stock.
Other equities research analysts also recently issued research reports about the stock. Deutsche Bank AG upped their price target on shares of Eversource Energy from $59.00 to $61.00 and gave the company a buy rating in a research note on Tuesday, April 11th. Zacks Investment Research raised shares of Eversource Energy from a hold rating to a buy rating and set a $70.00 price target on the stock in a research note on Wednesday, June 21st. Barclays PLC reaffirmed an equal weight rating and set a $66.00 price target (up previously from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Morgan Stanley increased their target price on shares of Eversource Energy from $63.00 to $64.00 and gave the company an equal weight rating in a research note on Tuesday, June 6th. Finally, Credit Suisse Group reissued a hold rating and issued a $59.00 target price on shares of Eversource Energy in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $62.95.
Shares of Eversource Energy (NYSE ES) opened at 61.86 on Monday. Eversource Energy has a 12 month low of $50.56 and a 12 month high of $63.34. The firm has a market capitalization of $19.60 billion, a P/E ratio of 20.02 and a beta of 0.28. The firm’s 50-day moving average is $60.97 and its 200 day moving average is $59.60.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. Eversource Energy’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities research analysts anticipate that Eversource Energy will post $3.15 EPS for the current year.
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In other Eversource Energy news, VP Werner J. Schweiger sold 48,544 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $61.01, for a total transaction of $2,961,669.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ES. Brookfield Asset Management Inc. acquired a new position in shares of Eversource Energy during the first quarter valued at about $106,000. Advisory Services Network LLC acquired a new position in shares of Eversource Energy during the first quarter valued at about $112,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock valued at $119,000 after buying an additional 400 shares during the last quarter. NEXT Financial Group Inc boosted its position in shares of Eversource Energy by 168.9% in the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,520 shares during the last quarter. Finally, First Personal Financial Services boosted its stake in Eversource Energy by 180.2% in the first quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock worth $151,000 after buying an additional 1,651 shares in the last quarter. Institutional investors own 71.03% of the company’s stock.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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