Eversource Energy (ES) Receives Average Recommendation of “Hold” from Brokerages

Eversource Energy (NYSE:ES) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $64.06.

A number of analysts recently commented on ES shares. Morgan Stanley raised their price target on Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Credit Suisse Group raised their price target on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. BidaskClub lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, Williams Capital raised their price target on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd.

A number of institutional investors have recently made changes to their positions in the business. Private Bank & Trust Co. lifted its position in Eversource Energy by 0.3% during the second quarter. Private Bank & Trust Co. now owns 4,167 shares of the utilities provider’s stock valued at $253,000 after buying an additional 13 shares during the period. MAI Capital Management lifted its position in Eversource Energy by 0.6% during the second quarter. MAI Capital Management now owns 4,408 shares of the utilities provider’s stock valued at $268,000 after buying an additional 25 shares during the period. Buckingham Asset Management LLC lifted its position in Eversource Energy by 0.6% during the second quarter. Buckingham Asset Management LLC now owns 4,047 shares of the utilities provider’s stock valued at $246,000 after buying an additional 25 shares during the period. Advisory Services Network LLC lifted its position in Eversource Energy by 1.7% during the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after buying an additional 32 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Eversource Energy by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 8,980 shares of the utilities provider’s stock valued at $545,000 after buying an additional 50 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

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Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the business earned $0.83 EPS. The business’s revenue was down 2.5% compared to the same quarter last year.

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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