Wells Fargo & Company Cuts Eversource Energy (NYSE:ES) Price Target to $75.00

Eversource Energy (NYSE:ES) had its target price decreased by stock analysts at Wells Fargo & Company from $79.00 to $75.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 23.29% from the company’s current price.

ES has been the subject of several other reports. Barclays decreased their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $66.00 to $56.00 in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Finally, Jefferies Financial Group lowered their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.08.

Eversource Energy Stock Up 1.9 %

Shares of Eversource Energy stock traded up $1.11 during trading hours on Thursday, hitting $60.83. 253,753 shares of the company’s stock traded hands, compared to its average volume of 2,930,956. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company has a market cap of $22.29 billion, a PE ratio of -38.72, a PEG ratio of 2.25 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The stock has a 50 day simple moving average of $57.89 and a 200-day simple moving average of $62.68.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Equities research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Verity & Verity LLC bought a new position in Eversource Energy in the 4th quarter valued at about $744,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Eversource Energy by 33.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after buying an additional 9,981 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Eversource Energy by 41.7% in the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after buying an additional 510,582 shares during the period. Landscape Capital Management L.L.C. boosted its stake in Eversource Energy by 46.9% during the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after buying an additional 10,093 shares in the last quarter. Finally, Everett Harris & Co. CA boosted its stake in Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock valued at $465,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

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.