Eversource Energy (ES) PT Set at $66.00 by Morgan Stanley
Eversource Energy (NYSE:ES) has been assigned a $66.00 target price by equities research analysts at Morgan Stanley in a note issued to investors on Thursday. The firm presently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 7.28% from the stock’s current price.
Several other brokerages have also recently issued reports on ES. Wells Fargo & Co lifted their price target on Eversource Energy from $67.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Wolfe Research upgraded Eversource Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, June 25th. They noted that the move was a valuation call. Credit Suisse Group upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $58.00 to $62.00 in a research report on Monday, July 9th. ValuEngine raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating in a research note on Friday, June 22nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.60.
Shares of ES stock opened at $61.52 on Thursday. Eversource Energy has a 1 year low of $52.76 and a 1 year high of $66.15. The firm has a market cap of $19.47 billion, a PE ratio of 19.78, a PEG ratio of 3.18 and a beta of 0.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.60 and a current ratio of 0.65.
In other news, EVP Leon J. Olivier sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $62.03, for a total transaction of $3,101,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.45% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Braun Bostich & Associates Inc. boosted its position in shares of Eversource Energy by 1,308.3% in the second quarter. Braun Bostich & Associates Inc. now owns 1,859 shares of the utilities provider’s stock worth $109,000 after buying an additional 1,727 shares during the period. O Brien Wealth Partners LLC boosted its position in shares of Eversource Energy by 175.3% in the third quarter. O Brien Wealth Partners LLC now owns 1,963 shares of the utilities provider’s stock worth $121,000 after buying an additional 1,250 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Eversource Energy by 46.8% in the second quarter. Qube Research & Technologies Ltd now owns 2,534 shares of the utilities provider’s stock worth $149,000 after buying an additional 808 shares during the period. Synovus Financial Corp boosted its position in shares of Eversource Energy by 205.3% in the second quarter. Synovus Financial Corp now owns 2,650 shares of the utilities provider’s stock worth $155,000 after buying an additional 1,782 shares during the period. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in shares of Eversource Energy in the first quarter worth $173,000. 73.35% of the stock is owned by institutional investors and hedge funds.
About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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