Eversource Energy (NYSE:ES) Price Target Raised to $72.00

Eversource Energy (NYSE:ES) had its price target lifted by equities research analysts at Wells Fargo & Company from $69.00 to $72.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 19.98% from the company’s current price.

Several other analysts have also commented on the stock. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective on the stock. Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Finally, Citigroup lifted their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $66.23.

Eversource Energy Stock Down 1.2 %

Shares of ES traded down $0.74 during trading hours on Friday, reaching $60.01. 3,430,099 shares of the stock traded hands, compared to its average volume of 2,899,421. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The stock has a fifty day simple moving average of $59.15 and a 200 day simple moving average of $58.07. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $77.97. The company has a market cap of $21.05 billion, a price-to-earnings ratio of -50.86, a PEG ratio of 3.29 and a beta of 0.57.

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 the consensus estimate of $1.45 by $0.04. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 earnings per share. On average, equities analysts forecast that Eversource Energy will post 4.49 EPS for the current year.

Insider Activity at Eversource Energy

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

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds have recently made changes to their positions in ES. Heritage Wealth Advisors bought a new stake in Eversource Energy during the 4th quarter valued at $25,000. Exchange Traded Concepts LLC bought a new stake in Eversource Energy during the 4th quarter valued at $26,000. Rise Advisors LLC bought a new stake in Eversource Energy during the 1st quarter valued at $27,000. Bfsg LLC bought a new stake in Eversource Energy during the 4th quarter valued at $31,000. Finally, Versant Capital Management Inc raised its holdings in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after buying an additional 201 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

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.