Eversource Energy (NYSE:ES) Given New $79.00 Price Target at Wells Fargo & Company

Eversource Energy (NYSE:ES) had its price objective raised by Wells Fargo & Company from $72.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

ES has been the subject of several other research reports. StockNews.com downgraded shares of Eversource Energy from a hold rating to a sell rating in a research report on Saturday, July 27th. BMO Capital Markets upped their price objective on Eversource Energy from $65.00 to $66.00 and gave the stock a market perform rating in a research report on Friday, May 3rd. The Goldman Sachs Group started coverage on Eversource Energy in a research report on Wednesday, April 10th. They issued a buy rating and a $73.00 target price on the stock. Bank of America raised shares of Eversource Energy from an underperform rating to a neutral rating and set a $61.00 price target for the company in a research note on Tuesday, June 25th. Finally, Barclays boosted their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an equal weight rating in a research report 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $67.43.

Eversource Energy Price Performance

Shares of ES traded up $0.65 on Friday, hitting $65.67. The company’s stock had a trading volume of 570,110 shares, compared to its average volume of 2,529,503. The company has a market capitalization of $23.13 billion, a PE ratio of -55.30, a PEG ratio of 2.53 and a beta of 0.59. 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 has a fifty-two week low of $52.03 and a fifty-two week high of $68.72. The company has a 50 day moving average price of $59.72 and a 200 day moving average price of $58.83.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting 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 firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the company posted $1.00 EPS. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares in the company, valued at approximately $603,480. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy in the fourth quarter valued at about $25,000. Lynx Investment Advisory bought a new position in Eversource Energy during the 2nd quarter worth approximately $25,000. Rise Advisors LLC bought a new position in Eversource Energy during the 1st quarter worth approximately $27,000. Bfsg LLC bought a new position in Eversource Energy during the 4th quarter worth approximately $31,000. Finally, Versant Capital Management Inc raised its holdings in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds 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.