Eversource Energy (NYSE:ES) Hits New 1-Year High Following Analyst Upgrade

Eversource Energy (NYSE:ES)’s stock price hit a new 52-week high during mid-day trading on Monday after BMO Capital Markets raised their price target on the stock from $69.00 to $73.00. BMO Capital Markets currently has a market perform rating on the stock. Eversource Energy traded as high as $68.96 and last traded at $68.96, with a volume of 4997 shares changing hands. The stock had previously closed at $67.11.

Several other equities analysts have also recently commented on the company. Morgan Stanley reduced their target price on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. The Goldman Sachs Group began coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective for the company. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research note on Tuesday, June 25th. Barclays lifted their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. One equities research 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, the company has an average rating of “Hold” and a consensus target price of $67.43.

Insider Activity at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,700 shares of the business’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 sale, the executive vice president now directly 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 can be accessed through the SEC website. In other news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the company’s 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 completion of the transaction, 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. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ES. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy during the 4th quarter worth approximately $25,000. Lynx Investment Advisory acquired a new position in Eversource Energy in the second quarter worth about $25,000. Rise Advisors LLC acquired a new stake in Eversource Energy during the first quarter valued at approximately $27,000. Bfsg LLC bought a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $31,000. Finally, Versant Capital Management Inc raised its holdings in shares of Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

The company has a 50-day moving average of $59.72 and a 200 day moving average of $58.83. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a market cap of $23.08 billion, a P/E ratio of -55.52, a P/E/G ratio of 2.53 and a beta of 0.59.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. On average, sell-side analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

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.