Eversource Energy (ES) Trading Down 1.1%
Eversource Energy (NYSE:ES) dropped 1.1% during trading on Monday . The stock traded as low as $56.64 and last traded at $56.64, with a volume of 543,213 shares trading hands. The stock had previously closed at $57.25.
ES has been the topic of several analyst reports. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Deutsche Bank AG restated a “hold” rating and set a $58.00 price objective (down previously from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th. Citigroup Inc. raised their price objective on Eversource Energy from $53.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Monday, August 1st. Finally, Barclays PLC raised their price objective on Eversource Energy from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, July 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.26.
The company has a 50-day moving average of $58.25 and a 200 day moving average of $56.69. The stock has a market capitalization of $17.88 billion and a P/E ratio of 20.72.
Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. The business earned $1.77 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Eversource Energy’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. Equities research analysts expect that Eversource Energy will post $2.97 earnings per share for the current year.
Several hedge funds recently made changes to their positions in ES. Bank of Montreal Can boosted its stake in shares of Eversource Energy by 15.0% in the fourth quarter. Bank of Montreal Can now owns 292,445 shares of the company’s stock worth $14,935,000 after buying an additional 38,160 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Eversource Energy by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 449,471 shares of the company’s stock worth $22,955,000 after buying an additional 7,951 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Eversource Energy by 30.3% in the fourth quarter. Victory Capital Management Inc. now owns 53,697 shares of the company’s stock worth $2,742,000 after buying an additional 12,501 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Eversource Energy by 80.6% in the fourth quarter. Suntrust Banks Inc. now owns 22,985 shares of the company’s stock worth $1,173,000 after buying an additional 10,258 shares in the last quarter.
Eversource Energy, formerly Northeast Utilities, 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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