StockNews.com Begins Coverage on Eversource Energy (NYSE:ES)

Analysts at StockNews.com assumed coverage on shares of Eversource Energy (NYSE:ES – Get Rating) in a report released on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

ES has been the topic of several other reports. Evercore ISI raised shares of Eversource Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $86.00 to $92.00 in a research report on Tuesday, January 24th. Wells Fargo & Company reduced their price target on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 15th. Argus reduced their price target on shares of Eversource Energy from $95.00 to $85.00 in a research report on Thursday, March 30th. Wolfe Research cut shares of Eversource Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 21st. Finally, BMO Capital Markets lifted their price target on shares of Eversource Energy from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Friday, April 14th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.58.

Eversource Energy Price Performance

ES opened at $74.09 on Thursday. The company’s 50 day simple moving average is $77.26 and its 200 day simple moving average is $79.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.65 and a current ratio of 0.65. Eversource Energy has a 1 year low of $70.54 and a 1 year high of $94.41. The stock has a market capitalization of $25.85 billion, a PE ratio of 17.77, a P/E/G ratio of 2.79 and a beta of 0.46.

Eversource Energy (NYSE:ES – Get Rating) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. Eversource Energy had a net margin of 11.52% and a return on equity of 9.51%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Eversource Energy will post 4.36 EPS for the current year.

Institutional Trading of Eversource Energy

A number of hedge funds have recently made changes to their positions in ES. Sowa Financial Group Inc. lifted its stake in Eversource Energy by 0.9% during the first quarter. Sowa Financial Group Inc. now owns 14,800 shares of the utilities provider’s stock valued at $1,158,000 after buying an additional 128 shares in the last quarter. Appleton Partners Inc. MA lifted its stake in Eversource Energy by 2.7% during the fourth quarter. Appleton Partners Inc. MA now owns 5,141 shares of the utilities provider’s stock valued at $431,000 after buying an additional 133 shares in the last quarter. United Capital Financial Advisers LLC lifted its stake in Eversource Energy by 3.6% during the first quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock valued at $342,000 after buying an additional 134 shares in the last quarter. SBB Research Group LLC lifted its stake in Eversource Energy by 5.3% during the third quarter. SBB Research Group LLC now owns 2,710 shares of the utilities provider’s stock valued at $211,000 after buying an additional 136 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its stake in Eversource Energy by 2.1% during the third quarter. FineMark National Bank & Trust now owns 6,672 shares of the utilities provider’s stock valued at $520,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Eversource Energy Company Profile

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.