Eversource Energy (NYSE:ES) Rating Increased to Neutral at Bank of America

Eversource Energy (NYSE:ES) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $61.00 price objective on the utilities provider’s stock. Bank of America‘s target price points to a potential upside of 7.07% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on ES. The Goldman Sachs Group assumed coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective on the stock. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. Scotiabank dropped their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Morgan Stanley reduced their price target on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Monday. Finally, BMO Capital Markets raised their price objective on shares of Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.86.

Eversource Energy Price Performance

Shares of NYSE ES opened at $56.97 on Tuesday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The stock has a market capitalization of $20.07 billion, a P/E ratio of -48.28, a P/E/G ratio of 2.33 and a beta of 0.60. The company’s 50-day moving average is $59.48 and its 200 day moving average is $58.78. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.53 earnings per share for the current year.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at $603,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the sale, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Eversource Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Heritage Wealth Advisors bought a new stake in Eversource Energy during the fourth quarter worth approximately $25,000. Exchange Traded Concepts LLC purchased a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in Eversource Energy during the first quarter valued at approximately $27,000. Bfsg LLC bought a new position in Eversource Energy in the fourth quarter worth approximately $31,000. Finally, Versant Capital Management Inc lifted its holdings in Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares during the period. 79.99% of the stock is currently owned by 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.