Eversource Energy (NYSE:ES) Coverage Initiated by Analysts at Barclays

Posted by Defense World Staff on Aug 24th, 2023

Barclays began coverage on shares of Eversource Energy (NYSE:ES – Free Report) in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $72.00 target price on the utilities provider’s stock.

Other analysts have also recently issued reports about the company. Citigroup dropped their price target on Eversource Energy from $86.00 to $80.00 in a research report on Sunday, July 16th. Scotiabank upgraded shares of Eversource Energy from a sector perform rating to a sector outperform rating and set a $91.00 price objective for the company in a report on Thursday, June 15th. Morgan Stanley restated an equal weight rating and issued a $81.00 price objective on shares of Eversource Energy in a report on Friday, July 21st. StockNews.com began coverage on shares of Eversource Energy in a report on Thursday, August 17th. They issued a sell rating for the company. Finally, Mizuho decreased their price objective on shares of Eversource Energy from $79.00 to $73.00 in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $81.33.

View Our Latest Stock Analysis on Eversource Energy

Eversource Energy Stock Performance

Shares of ES opened at $64.13 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average price is $69.86 and its 200-day moving average price is $73.84. Eversource Energy has a 52 week low of $63.30 and a 52 week high of $92.97. The stock has a market cap of $22.39 billion, a P/E ratio of 19.03, a P/E/G ratio of 2.57 and a beta of 0.47.

Eversource Energy (NYSE:ES – Get Free Report) last issued its quarterly earnings results on Monday, July 31st. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. Eversource Energy had a return on equity of 9.78% and a net margin of 9.28%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Eversource Energy will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $64.25, for a total transaction of $963,750.00. Following the completion of the sale, the vice president now directly owns 63,554 shares in the company, valued at approximately $4,083,344.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds have recently modified their holdings of the business. Sowa Financial Group Inc. grew its position in shares of Eversource Energy by 0.9% in the 1st quarter. Sowa Financial Group Inc. now owns 14,800 shares of the utilities provider’s stock worth $1,158,000 after acquiring an additional 128 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in Eversource Energy by 3.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock valued at $342,000 after purchasing an additional 134 shares during the period. Park Avenue Securities LLC boosted its position in Eversource Energy by 0.7% during the 1st quarter. Park Avenue Securities LLC now owns 19,908 shares of the utilities provider’s stock valued at $1,558,000 after purchasing an additional 140 shares during the period. Gateway Investment Advisers LLC boosted its position in Eversource Energy by 4.9% during the 2nd quarter. Gateway Investment Advisers LLC now owns 3,133 shares of the utilities provider’s stock valued at $222,000 after purchasing an additional 145 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Eversource Energy by 0.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 19,116 shares of the utilities provider’s stock valued at $1,603,000 after purchasing an additional 147 shares during the period. Institutional investors own 83.25% of the company’s stock.

About Eversource Energy

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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.