Wells Fargo & Company Lowers Eversource Energy (NYSE:ES) Price Target to $74.00

Eversource Energy (NYSE:ES) had its price objective reduced by stock analysts at Wells Fargo & Company from $78.00 to $74.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.79% from the stock’s current price.

ES has been the topic of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Wednesday, January 28th. Mizuho reduced their target price on Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Bank of America lowered their price target on Eversource Energy from $82.00 to $73.00 and set a “buy” rating for the company in a report on Friday, March 27th. BMO Capital Markets cut their price objective on Eversource Energy from $79.00 to $75.00 and set a “market perform” rating on the stock in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $71.90.

Eversource Energy Trading Up 0.0%

NYSE:ES traded up $0.01 on Wednesday, hitting $69.29. 726,691 shares of the stock were exchanged, compared to its average volume of 2,672,389. The company’s 50-day moving average price is $71.26 and its 200 day moving average price is $70.13. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $76.41. The stock has a market capitalization of $26.04 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 3.67 and a beta of 0.76. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.65.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Activity at Eversource Energy

In related news, EVP John M. Moreira sold 7,800 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $73.90, for a total transaction of $576,420.00. Following the completion of the transaction, the executive vice president owned 43,269 shares in the company, valued at approximately $3,197,579.10. This represents a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Y. Kim sold 6,000 shares of Eversource Energy stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.57, for a total transaction of $441,420.00. Following the completion of the transaction, the insider owned 12,339 shares of the company’s stock, valued at $907,780.23. The trade was a 32.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,381 shares of company stock worth $1,211,079 in the last quarter. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently made changes to their positions in ES. Norges Bank purchased a new stake in Eversource Energy in the fourth quarter worth $324,032,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Eversource Energy by 23,707.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider’s stock valued at $313,067,000 after buying an additional 4,630,216 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Eversource Energy by 61.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after purchasing an additional 3,645,555 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Eversource Energy by 43,905.7% during the 2nd quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock valued at $171,309,000 after buying an additional 2,686,588 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Eversource Energy by 78.1% during the 4th quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider’s stock valued at $359,676,000 after purchasing an additional 2,341,912 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.