Eversource Energy (NYSE:ES) Stock Rated Hold in New Coverage at HSBC

Equities research analysts at HSBC started coverage on shares of Eversource Energy (NYSE:ES) in a research note issued to investors on Thursday, Briefing.com reports. The firm set a “hold” rating and a $70.00 price target on the utilities provider’s stock. HSBC’s price objective indicates a potential upside of 6.73% from the company’s current price.

A number of other equities analysts also recently commented on ES. Wells Fargo & Company lifted their price objective on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. BMO Capital Markets dropped their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Citigroup restated a “hold” rating and issued a $81.00 target price on shares of Eversource Energy in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a research report on Monday. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $72.91.

Eversource Energy Price Performance

ES opened at $65.59 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80. The company has a 50-day moving average of $68.05 and a 200-day moving average of $69.76. Eversource Energy has a 1-year low of $62.72 and a 1-year high of $76.57. The company has a market capitalization of $24.70 billion, a P/E ratio of 16.99, a PEG ratio of 2.85 and a beta of 0.67.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the business earned $0.96 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities analysts expect that Eversource Energy will post 4.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ES. Man Group plc acquired a new stake in Eversource Energy in the second quarter worth about $57,166,000. Integrated Wealth Concepts LLC grew its position in Eversource Energy by 55.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 55,071 shares of the utilities provider’s stock valued at $3,980,000 after buying an additional 19,628 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Eversource Energy by 13.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 352,400 shares of the utilities provider’s stock valued at $25,468,000 after buying an additional 40,993 shares during the period. Edgestream Partners L.P. acquired a new position in Eversource Energy during the 1st quarter valued at about $2,587,000. Finally, Quantitative Investment Management LLC bought a new stake in shares of Eversource Energy during the 2nd quarter worth about $1,116,000. Institutional investors own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.