Eversource Energy (ES) Rating Increased to Overweight at Morgan Stanley
Eversource Energy (NYSE:ES) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $72.00 target price on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 11.15% from the company’s previous close.
ES has been the topic of a number of other research reports. Credit Suisse Group lifted their target price on Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Williams Capital lifted their target price on Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Bank of America started coverage on Eversource Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 target price on the stock. Finally, BidaskClub upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $64.50.
Eversource Energy (ES) traded down $0.30 during mid-day trading on Wednesday, hitting $64.78. The stock had a trading volume of 1,749,000 shares, compared to its average volume of 1,443,469. Eversource Energy has a 1-year low of $52.59 and a 1-year high of $66.15. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $20,622.93, a PE ratio of 21.13, a price-to-earnings-growth ratio of 3.51 and a beta of 0.31.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business posted $0.83 EPS. Eversource Energy’s revenue was down 2.5% compared to the same quarter last year. sell-side analysts forecast that Eversource Energy will post 3.14 EPS for the current year.
In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC increased its position in shares of Eversource Energy by 1.7% during the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 32 shares during the last quarter. Risk Paradigm Group LLC increased its position in shares of Eversource Energy by 111.7% during the third quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 1,117 shares during the last quarter. Sun Life Financial INC increased its position in shares of Eversource Energy by 23,040.0% during the second quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 2,304 shares during the last quarter. WFG Advisors LP increased its position in shares of Eversource Energy by 127.8% during the second quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Eversource Energy by 63.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 1,265 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.
Eversource Energy Company Profile
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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