Eversource Energy (NYSE:ES) PT Raised to $95.00

Eversource Energy (NYSE:ES) had its target price boosted by KeyCorp from $88.00 to $95.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective would indicate a potential upside of 10.65% from the company’s previous close.

ES has been the topic of several other research reports. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $76.00 to $88.00 in a research note on Wednesday, September 4th. UBS Group lifted their price objective on Eversource Energy from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley lifted their price objective on Eversource Energy from $80.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Wells Fargo & Co lifted their price objective on Eversource Energy from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, ValuEngine downgraded Eversource Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $81.45.

Shares of ES stock opened at $85.86 on Monday. The stock’s fifty day simple moving average is $84.07 and its 200 day simple moving average is $77.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.56. The firm has a market cap of $27.70 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 4.43 and a beta of 0.20. Eversource Energy has a one year low of $61.57 and a one year high of $86.54.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.95 billion. Eversource Energy had a return on equity of 9.24% and a net margin of 10.00%. Eversource Energy’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. On average, research analysts anticipate that Eversource Energy will post 3.44 earnings per share for the current year.

In other news, CFO Philip J. Lembo sold 1,256 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $79.61, for a total transaction of $99,990.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory B. Butler sold 8,298 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $77.30, for a total value of $641,435.40. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp grew its position in Eversource Energy by 21.5% during the second quarter. MUFG Americas Holdings Corp now owns 735 shares of the utilities provider’s stock worth $56,000 after buying an additional 130 shares in the last quarter. Next Capital Management LLC grew its stake in shares of Eversource Energy by 24.7% in the 2nd quarter. Next Capital Management LLC now owns 696 shares of the utilities provider’s stock valued at $53,000 after buying an additional 138 shares during the period. 6 Meridian grew its stake in shares of Eversource Energy by 2.0% in the 2nd quarter. 6 Meridian now owns 7,233 shares of the utilities provider’s stock valued at $548,000 after buying an additional 140 shares during the period. First Personal Financial Services grew its stake in shares of Eversource Energy by 25.8% in the 2nd quarter. First Personal Financial Services now owns 692 shares of the utilities provider’s stock valued at $52,000 after buying an additional 142 shares during the period. Finally, Summit X LLC grew its stake in shares of Eversource Energy by 2.6% in the 3rd quarter. Summit X LLC now owns 5,824 shares of the utilities provider’s stock valued at $498,000 after buying an additional 145 shares during the period. Institutional investors own 78.53% of the company’s stock.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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