Eversource Energy (NYSE:ES) Upgraded by StockNews.com to Hold Rating

Eversource Energy (NYSE:ES) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts also recently issued reports about the stock. BMO Capital Markets decreased their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Scotiabank lifted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Bank of America lifted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Mizuho lifted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.46.

Eversource Energy Price Performance

Shares of ES stock traded down $0.52 during trading hours on Tuesday, reaching $60.57. The stock had a trading volume of 1,664,831 shares, compared to its average volume of 2,408,875. The stock’s fifty day simple moving average is $65.77 and its 200 day simple moving average is $62.85. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.73. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The firm has a market capitalization of $22.19 billion, a PE ratio of -38.58, a PEG ratio of 2.46 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the business earned $0.97 earnings per share. Eversource Energy’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds have recently bought and sold shares of the business. Lynx Investment Advisory purchased a new stake in shares of Eversource Energy during the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in Eversource Energy in the 3rd quarter worth approximately $32,000. UMB Bank n.a. increased its holdings in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 198 shares in the last quarter. Larson Financial Group LLC increased its holdings in Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 350 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Eversource Energy in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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.