Barclays Lowers Eversource Energy (NYSE:ES) Price Target to $69.00

Eversource Energy (NYSE:ES) had its target price dropped by stock analysts at Barclays from $72.00 to $69.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential upside of 18.42% from the company’s current price.

A number of other equities analysts have also issued reports on ES. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Mizuho lifted their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price target for the company from $66.00 to $56.00 in a report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group initiated coverage on shares of Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $68.15.

Eversource Energy Stock Up 0.7 %

ES opened at $58.27 on Wednesday. The stock’s 50 day moving average price is $59.37 and its 200 day moving average price is $62.96. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The stock has a market cap of $21.35 billion, a P/E ratio of -37.11, a P/E/G ratio of 2.21 and a beta of 0.62. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 earnings per share. As a group, research analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors have recently modified their holdings of the stock. State Street Corp increased its holdings in Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Eversource Energy in the 3rd quarter worth approximately $808,783,000. Geode Capital Management LLC lifted its holdings in Eversource Energy by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after purchasing an additional 268,588 shares during the last quarter. FMR LLC boosted its position in Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after purchasing an additional 185,381 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eversource Energy by 4.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after purchasing an additional 216,630 shares during the last quarter. Institutional investors and hedge funds 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.