Barclays Issues Pessimistic Forecast for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its target price dropped by equities research analysts at Barclays from $72.00 to $69.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would indicate a potential upside of 18.42% from the stock’s current price.

ES has been the subject of a number of other research reports. BMO Capital Markets dropped their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Mizuho raised their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Jefferies Financial Group began coverage on Eversource Energy in a research report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price objective on the stock. Finally, Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $66.00 to $56.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average price target of $68.15.

Eversource Energy Stock Performance

Shares of ES stock opened at $58.27 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of -37.11, a price-to-earnings-growth ratio of 2.21 and a beta of 0.62. Eversource Energy has a one year low of $52.09 and a one year high of $69.01. The company has a 50 day moving average price of $59.37 and a 200 day moving average price of $62.96.

Eversource Energy (NYSE:ES) last issued its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC raised its stake in Eversource Energy by 3.0% during the fourth quarter. Flagship Harbor Advisors LLC now owns 13,700 shares of the utilities provider’s stock worth $787,000 after acquiring an additional 395 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in shares of Eversource Energy by 1.5% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 26,944 shares of the utilities provider’s stock valued at $1,547,000 after purchasing an additional 387 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Eversource Energy by 10.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 176 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Eversource Energy by 7.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 100,801 shares of the utilities provider’s stock worth $5,789,000 after purchasing an additional 6,714 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Eversource Energy by 12.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider’s stock worth $4,198,000 after buying an additional 7,967 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.