Eversource Energy (NYSE:ES) Price Target Cut to $77.00 by Analysts at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective lowered by analysts at BMO Capital Markets from $79.00 to $77.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 5.73% from the company’s previous close.

Other research analysts have also issued reports about the company. TD Cowen began coverage on Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price for the company. Mizuho boosted their price objective on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Scotiabank set a $64.00 target price on shares of Eversource Energy and gave the company a “sector underperform” rating in a report on Wednesday. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $72.70.

Eversource Energy Trading Down 0.1%

ES opened at $72.83 on Thursday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The business has a fifty day simple moving average of $69.49 and a 200-day simple moving average of $65.83. The firm has a market cap of $27.03 billion, a P/E ratio of 19.64, a P/E/G ratio of 2.65 and a beta of 0.69.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.19%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. On average, equities analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction dated Friday, August 22nd. The shares were purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ES. Neo Ivy Capital Management purchased a new position in Eversource Energy during the 2nd quarter valued at $26,000. Root Financial Partners LLC bought a new stake in shares of Eversource Energy during the 3rd quarter valued at about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Eversource Energy during the 3rd quarter valued at about $27,000. Trust Co. of Toledo NA OH purchased a new position in shares of Eversource Energy during the second quarter valued at about $28,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Eversource Energy in the second quarter worth about $31,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

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.