Eversource Energy (NYSE:ES – Free Report) had its target price decreased by Morgan Stanley from $81.00 to $75.00 in a report issued on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.
Several other analysts have also issued reports on ES. Citigroup cut their price target on Eversource Energy from $86.00 to $80.00 in a report on Sunday, July 16th. UBS Group decreased their target price on shares of Eversource Energy from $81.00 to $75.00 in a research note on Friday, May 26th. Barclays began coverage on shares of Eversource Energy in a research report on Wednesday. They issued an equal weight rating and a $72.00 price target for the company. Scotiabank upgraded shares of Eversource Energy from a sector perform rating to a sector outperform rating and set a $91.00 price objective on the stock in a research report on Thursday, June 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Eversource Energy from $87.00 to $78.00 in a report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy currently has an average rating of Hold and a consensus target price of $81.33.
View Our Latest Stock Analysis on ES
Eversource Energy Stock Performance
Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings results on Monday, July 31st. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.09. Eversource Energy had a net margin of 9.28% and a return on equity of 9.78%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts forecast that Eversource Energy will post 4.36 earnings per share for the current year.
Insider Buying and Selling
In related news, VP Gregory B. Butler sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $64.25, for a total value of $963,750.00. Following the sale, the vice president now directly owns 63,554 shares in the company, valued at $4,083,344.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.
Institutional Investors Weigh In On Eversource Energy
A number of hedge funds have recently made changes to their positions in ES. Delta Asset Management LLC TN bought a new stake in Eversource Energy during the fourth quarter worth approximately $25,000. Lakewood Asset Management LLC bought a new stake in Eversource Energy during the fourth quarter worth approximately $25,000. Quarry LP increased its stake in Eversource Energy by 275.0% during the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 231 shares during the last quarter. New Hampshire Trust bought a new stake in Eversource Energy during the fourth quarter worth approximately $27,000. Finally, Resurgent Financial Advisors LLC bought a new stake in Eversource Energy during the fourth quarter worth approximately $27,000. 83.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
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