Shares of Eversource Energy (NYSE:ES) saw strong trading volume on Wednesday . 2,477,342 shares were traded during trading, an increase of 82% from the previous session’s volume of 1,364,625 shares.The stock last traded at $55.37 and had previously closed at $55.47.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Mizuho increased their price objective on shares of Eversource Energy from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, May 3rd. Deutsche Bank AG reiterated a “hold” rating and set a $58.00 price objective (down from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th. Citigroup Inc. increased their price objective on shares of Eversource Energy from $53.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Finally, Argus reiterated a “buy” rating on shares of Eversource Energy in a research note on Thursday, May 12th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Eversource Energy currently has a consensus rating of “Hold” and an average target price of $60.26.

The firm’s 50 day moving average is $58.09 and its 200 day moving average is $56.70. The stock has a market capitalization of $17.69 billion and a P/E ratio of 20.50.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.01. During the same quarter last year, the firm earned $0.65 EPS. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.81 billion. Eversource Energy’s revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that Eversource Energy will post $2.97 EPS for the current year.

Other large investors recently added to or reduced their stakes in the company. Suntrust Banks Inc. increased its stake in 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 during the period. Victory Capital Management Inc. increased its stake in 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 during the period. Bank of Montreal Can increased its stake in 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 during the period. Finally, Principal Financial Group Inc. increased its stake in 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 during the period.

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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