Eversource Energy (NYSE:ES) Price Target Raised to $66.00 at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective boosted by investment analysts at BMO Capital Markets from $65.00 to $66.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 9.98% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Argus cut their price target on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $67.00 in a report on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price for the company. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $60.00 to $72.00 in a report on Monday, January 22nd. Finally, StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $66.23.

Eversource Energy Stock Performance

Eversource Energy stock traded down $0.74 during trading hours on Friday, reaching $60.01. 3,430,099 shares of the stock were exchanged, compared to its average volume of 2,899,421. The stock has a market cap of $21.05 billion, a P/E ratio of -50.86, a P/E/G ratio of 3.29 and a beta of 0.57. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $77.97. The firm’s 50 day moving average is $59.15 and its 200 day moving average is $58.07.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. Eversource Energy’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. Analysts predict that Eversource Energy will post 4.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Heritage Wealth Advisors purchased a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in shares of Eversource Energy during the first quarter valued at approximately $27,000. Bfsg LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth $31,000. Finally, Versant Capital Management Inc raised its holdings in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 201 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.