Eversource Energy (NYSE:ES) Price Target Raised to $73.00 at Mizuho

Eversource Energy (NYSE:ES) had its price objective lifted by stock analysts at Mizuho from $62.00 to $73.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s target price indicates a potential upside of 10.79% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Scotiabank increased their target price 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. Barclays increased their target price 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. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, BMO Capital Markets cut their price target on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Eversource Energy Stock Performance

Eversource Energy stock opened at $65.89 on Wednesday. The firm’s fifty day moving average price is $66.62 and its 200-day moving average price is $61.78. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The stock has a market cap of $23.21 billion, a P/E ratio of -55.84, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company posted $1.00 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts expect that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Rockland Trust Co. lifted its position in Eversource Energy by 2.0% during the 3rd quarter. Rockland Trust Co. now owns 14,052 shares of the utilities provider’s stock valued at $956,000 after acquiring an additional 275 shares during the period. Apella Capital LLC purchased a new position in Eversource Energy during the 3rd quarter valued at about $250,000. SG Americas Securities LLC raised its holdings in Eversource Energy by 127.7% in the third quarter. SG Americas Securities LLC now owns 114,201 shares of the utilities provider’s stock worth $7,771,000 after buying an additional 64,039 shares during the last quarter. Czech National Bank raised its holdings in Eversource Energy by 8.5% in the third quarter. Czech National Bank now owns 72,803 shares of the utilities provider’s stock worth $4,954,000 after buying an additional 5,678 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Eversource Energy by 14.7% in 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 during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.