Eversource Energy (NYSE:ES – Get Rating) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat reports. The firm presently has a $97.00 target price on the utilities provider’s stock, up from their previous target price of $92.00. Guggenheim’s target price would indicate a potential upside of 16.42% from the stock’s previous close.
ES has been the subject of a number of other research reports. Credit Suisse Group started coverage on Eversource Energy in a research report on Tuesday, April 26th. They issued a “neutral” rating and a $92.00 price target for the company. Wells Fargo & Company boosted their price target on Eversource Energy from $92.00 to $97.00 in a research report on Thursday, May 5th. UBS Group reduced their price target on Eversource Energy from $92.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, June 30th. StockNews.com initiated coverage on Eversource Energy in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $90.22.
ES opened at $83.32 on Friday. The stock has a market cap of $28.74 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 3.27 and a beta of 0.45. Eversource Energy has a 1 year low of $77.07 and a 1 year high of $94.63. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 1.21. The stock has a fifty day moving average price of $87.25 and a 200 day moving average price of $87.19.
Eversource Energy (NYSE:ES – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Eversource Energy had a return on equity of 9.52% and a net margin of 12.32%. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Eversource Energy will post 4.12 earnings per share for the current fiscal year.
In related news, insider Frederica M. Williams sold 1,859 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $90.84, for a total transaction of $168,871.56. Following the transaction, the insider now directly owns 20,286 shares in the company, valued at $1,842,780.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 4,000 shares of Eversource Energy stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $91.75, for a total value of $367,000.00. Following the sale, the executive vice president now directly owns 4,979 shares in the company, valued at $456,823.25. The disclosure for this sale can be found here. Insiders have sold 6,509 shares of company stock worth $596,029 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. David J Yvars Group acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $26,000. Country Trust Bank acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $28,000. TAP Consulting LLC acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $28,000. Rinkey Investments acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $31,000. Finally, MCF Advisors LLC acquired a new position in shares of Eversource Energy in the 1st quarter worth approximately $31,000. 80.74% of the stock is currently owned by institutional investors.
Eversource Energy Company Profile (Get Rating)
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.
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