Eversource Energy (NYSE:ES) Receives New Coverage from Analysts at Credit Suisse Group

Stock analysts at Credit Suisse Group began coverage on shares of Eversource Energy (NYSE:ESGet Rating) in a report issued on Tuesday, Briefing.com reports. The brokerage set a “neutral” rating and a $92.00 price target on the utilities provider’s stock. Credit Suisse Group’s price target would suggest a potential upside of 1.44% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley boosted their price objective on Eversource Energy from $90.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 20th. StockNews.com assumed coverage on Eversource Energy in a report on Thursday, March 31st. They set a “hold” rating for the company. Wolfe Research downgraded shares of Eversource Energy from an “outperform” rating to a “peer perform” rating and dropped their price target for the company from $87.00 to $85.00 in a research report on Wednesday, March 9th. Bank of America downgraded shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 price target for the company. in a research report on Wednesday, February 23rd. Finally, BMO Capital Markets downgraded shares of Eversource Energy from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research report on Monday, January 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.78.

Eversource Energy stock opened at $90.69 on Tuesday. Eversource Energy has a 52 week low of $78.44 and a 52 week high of $94.63. The stock has a market capitalization of $31.24 billion, a P/E ratio of 25.62, a PEG ratio of 3.66 and a beta of 0.43. The stock has a 50-day simple moving average of $86.62 and a 200 day simple moving average of $86.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.51 and a current ratio of 0.56.

Eversource Energy (NYSE:ESGet Rating) last issued its quarterly earnings data on Wednesday, February 16th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Eversource Energy had a return on equity of 9.29% and a net margin of 12.34%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Eversource Energy will post 4.1 earnings per share for the current year.

In related news, insider Linda Dorcena Forry sold 1,487 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $79.18, for a total value of $117,740.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James W. Hunt III sold 4,444 shares of the business’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $90.00, for a total transaction of $399,960.00. Following the completion of the sale, the executive vice president now directly owns 16,115 shares in the company, valued at approximately $1,450,350. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,515 shares of company stock valued at $734,010. Company insiders own 0.38% of the company’s stock.

Several institutional investors have recently modified their holdings of ES. Financial Advocates Investment Management boosted its position in Eversource Energy by 3.8% during the third quarter. Financial Advocates Investment Management now owns 3,328 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 123 shares during the last quarter. Parcion Private Wealth LLC boosted its position in Eversource Energy by 4.3% during the third quarter. Parcion Private Wealth LLC now owns 3,090 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 126 shares during the last quarter. FineMark National Bank & Trust boosted its position in Eversource Energy by 2.9% during the third quarter. FineMark National Bank & Trust now owns 4,626 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 130 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Eversource Energy by 13.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,103 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 131 shares during the last quarter. Finally, Veritable L.P. raised its holdings in shares of Eversource Energy by 1.8% during the third quarter. Veritable L.P. now owns 7,293 shares of the utilities provider’s stock valued at $596,000 after purchasing an additional 132 shares during the period. 80.18% of the stock is currently owned by institutional investors.

About Eversource Energy (Get Rating)

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.

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Analyst Recommendations for Eversource Energy (NYSE:ES)

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