Eversource Energy (NYSE:ES) Price Target Cut to $72.00 by Analysts at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective cut by stock analysts at BMO Capital Markets from $74.00 to $72.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 10.99% from the company’s current price.

A number of other analysts have also weighed in on the stock. Scotiabank increased their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Morgan Stanley increased their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Barclays increased their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $69.86.

Eversource Energy Price Performance

NYSE:ES traded up $0.85 during midday trading on Tuesday, hitting $64.87. The company had a trading volume of 129,305 shares, compared to its average volume of 2,413,495. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The stock’s fifty day moving average price is $66.41 and its 200-day moving average price is $62.11. The company has a market capitalization of $22.85 billion, a PE ratio of -54.97, a P/E/G ratio of 2.47 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) 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 business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. As a group, research analysts expect that Eversource Energy will post 4.57 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 sale, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eversource Energy

A number of large investors have recently made changes to their positions in the company. Lynx Investment Advisory bought a new position in Eversource Energy in the 2nd quarter worth about $25,000. Rise Advisors LLC bought a new position in shares of Eversource Energy during the first quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 181 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in shares of Eversource Energy by 83.6% during the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 276 shares in the last quarter. 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.