Wells Fargo & Company Has Lowered Expectations for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its price target decreased by Wells Fargo & Company from $79.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 21.81% from the stock’s previous close.

ES has been the topic of several other reports. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Scotiabank lowered Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the stock from $66.00 to $56.00 in a research report on Thursday, December 12th. Barclays dropped their target price on 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. Finally, Jefferies Financial Group dropped their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.00.

Eversource Energy Stock Down 1.5 %

Shares of Eversource Energy stock opened at $61.57 on Thursday. The stock has a 50-day moving average price of $57.91 and a 200 day moving average price of $62.68. The company has a market cap of $22.56 billion, a P/E ratio of -39.22, a P/E/G ratio of 2.25 and a beta of 0.62. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. As a group, analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Institutional Trading of Eversource Energy

A number of hedge funds have recently modified their holdings of ES. Wellington Management Group LLP bought a new stake in shares of Eversource Energy in the 3rd quarter worth approximately $808,783,000. Norges Bank bought a new stake in shares of Eversource Energy in the 4th quarter worth approximately $188,838,000. Amundi lifted its position in shares of Eversource Energy by 32.2% in the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock worth $367,691,000 after acquiring an additional 1,579,818 shares during the period. Vanguard Group Inc. lifted its position in shares of Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after acquiring an additional 1,387,072 shares during the period. Finally, Magellan Asset Management Ltd lifted its position in shares of Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider’s stock worth $371,829,000 after acquiring an additional 890,514 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.