Deutsche Bank AG lowered shares of Eversource Energy (NYSE:ES) from a buy rating to a hold rating in a research report report published on Monday. Deutsche Bank AG currently has $61.50 price objective on the utilities provider’s stock, up from their previous price objective of $61.00.
A number of other research analysts also recently commented on the company. Zacks Investment Research raised Eversource Energy from a sell rating to a hold rating in a research note on Tuesday, April 4th. Credit Suisse Group reaffirmed a hold rating and issued a $59.00 price target on shares of Eversource Energy in a research note on Tuesday, June 6th. Morgan Stanley boosted their price target on Eversource Energy from $63.00 to $64.00 and gave the company an equal weight rating in a research note on Tuesday, June 6th. Barclays PLC reaffirmed an equal weight rating and issued a $66.00 price target (up previously from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Finally, BMO Capital Markets boosted their price target on Eversource Energy from $57.00 to $61.00 and gave the company a market perform rating in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $62.75.
Shares of Eversource Energy (NYSE ES) opened at 61.88 on Monday. The firm has a market cap of $19.62 billion, a PE ratio of 20.03 and a beta of 0.28. Eversource Energy has a 12 month low of $50.56 and a 12 month high of $63.34. The company’s 50 day moving average is $61.15 and its 200-day moving average is $59.31.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. Eversource Energy’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts predict that Eversource Energy will post $3.16 EPS for the current year.
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In other Eversource Energy news, VP Werner J. Schweiger sold 48,544 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $61.01, for a total transaction of $2,961,669.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ES. Teachers Advisors LLC increased its position in shares of Eversource Energy by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 566,706 shares of the utilities provider’s stock valued at $31,299,000 after buying an additional 39,988 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Eversource Energy during the fourth quarter valued at approximately $1,271,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Eversource Energy during the fourth quarter valued at approximately $567,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Eversource Energy by 2.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 273,276 shares of the utilities provider’s stock valued at $16,063,000 after buying an additional 7,419 shares during the last quarter. Finally, Union Bankshares Corp increased its position in shares of Eversource Energy by 12.1% in the first quarter. Union Bankshares Corp now owns 74,798 shares of the utilities provider’s stock valued at $4,397,000 after buying an additional 8,071 shares during the last quarter. 71.33% of the stock is owned by hedge funds and other institutional investors.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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