Eversource Energy (NYSE:ES) PT Raised to $74.00 at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective lifted by stock analysts at BMO Capital Markets from $70.00 to $74.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 13.18% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays increased their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Mizuho raised their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Scotiabank lifted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Bank of America lifted their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.00.

Eversource Energy Price Performance

ES stock opened at $65.38 on Thursday. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of -55.41, a PEG ratio of 2.54 and a beta of 0.61. The firm’s 50-day moving average price is $66.63 and its two-hundred day moving average price is $61.83. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities analysts predict that Eversource Energy will post 4.57 earnings per share for the current year.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in Eversource Energy by 14.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock worth $90,000 after buying an additional 169 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 181 shares during the period. Addison Advisors LLC raised its position in Eversource Energy by 27.4% during the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 185 shares during the period. Bar Harbor Wealth Management raised its position in Eversource Energy by 4.1% during the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 190 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 192 shares during the period. 79.99% of the stock is owned by hedge funds and other 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.