Eversource Energy (NYSE:ES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $69.00 target price on the utilities provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.61% from the company’s current price.
According to Zacks, “Shares of Eversource Energy returned higher than the industry in last 12 months. Eversource Energy‘s systematic investments in renewable energy generation, primarily in transmission and distribution systems will help it to provide reliable services to its customers. Margins of the company will improve if the company continues to reduce operating costs. Moreover, its regulated investment plans will help it to boost earnings per share by 5–7% over the 2017–2020 time frame from the 2016 level of $2.96. However, the company's decision to withdraw its Access Northeast Pipeline plan due to regulatory uncertainty, will have an adverse impact on its growth prospects. Moreover, it faces challenges due to severe weather conditions.”
Several other equities research analysts have also recently commented on ES. Bank of America assumed coverage on shares of Eversource Energy in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 price objective on the stock. Williams Capital boosted their price objective on shares of Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Credit Suisse Group boosted their price objective on shares of Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, October 2nd. Finally, Morgan Stanley boosted their price objective on shares of Eversource Energy from $64.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $64.95.
Eversource Energy (ES) traded up $0.11 on Monday, reaching $61.82. 2,265,000 shares of the company’s stock were exchanged, compared to its average volume of 2,780,250. The firm has a market cap of $19,589.88, a price-to-earnings ratio of 20.07, a PEG ratio of 3.14 and a beta of 0.31. Eversource Energy has a 12-month low of $54.08 and a 12-month high of $66.15. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. equities analysts forecast that Eversource Energy will post 3.14 earnings per share for the current fiscal year.
In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.
A number of large investors have recently modified their holdings of ES. Advisory Services Network LLC lifted its position in Eversource Energy by 1.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after buying an additional 32 shares in the last quarter. Risk Paradigm Group LLC lifted its position in Eversource Energy by 111.7% during the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock worth $128,000 after buying an additional 1,117 shares in the last quarter. Sun Life Financial INC lifted its position in Eversource Energy by 23,040.0% during the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after buying an additional 2,304 shares in the last quarter. WFG Advisors LP lifted its position in Eversource Energy by 127.8% during the 2nd quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after buying an additional 1,380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Eversource Energy by 63.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after buying an additional 1,265 shares in the last quarter. 72.14% of the stock is currently owned by hedge funds and other institutional investors.
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Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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