ValuEngine upgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a buy rating in a research note published on Friday.

Several other analysts have also recently issued reports on the company. Morgan Stanley set a $66.00 target price on Eversource Energy and gave the company a hold rating in a research report on Thursday, October 11th. Citigroup increased their target price on Eversource Energy from $59.00 to $63.00 and gave the company a hold rating in a research report on Tuesday, September 25th. Bank of America raised Eversource Energy from an underperform rating to a neutral rating and set a $59.00 target price on the stock in a research report on Friday, August 3rd. Barclays began coverage on Eversource Energy in a research report on Monday, October 22nd. They set a hold rating and a $64.00 target price on the stock. Finally, Scotiabank began coverage on Eversource Energy in a research report on Tuesday, September 4th. They set a sector perform rating on the stock. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $63.82.

Shares of NYSE:ES opened at $67.04 on Friday. Eversource Energy has a 52-week low of $52.76 and a 52-week high of $67.05. The company has a market capitalization of $21.24 billion, a P/E ratio of 21.56, a PEG ratio of 3.46 and a beta of 0.16. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.07.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.03. Eversource Energy had a return on equity of 9.32% and a net margin of 12.51%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Eversource Energy’s revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts predict that Eversource Energy will post 3.26 earnings per share for the current fiscal year.

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 value of $3,101,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Eversource Energy by 5.8% in the 2nd quarter. American Century Companies Inc. now owns 3,344,553 shares of the utilities provider’s stock worth $196,024,000 after purchasing an additional 184,224 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in Eversource Energy in the 2nd quarter worth $266,000. Dai Ichi Life Insurance Company Ltd raised its stake in Eversource Energy by 13.4% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 146,986 shares of the utilities provider’s stock worth $8,615,000 after acquiring an additional 17,405 shares during the last quarter. Cox Capital Co LLC purchased a new position in Eversource Energy in the 2nd quarter worth $543,000. Finally, Andra AP fonden raised its stake in Eversource Energy by 6.0% in the 2nd quarter. Andra AP fonden now owns 67,300 shares of the utilities provider’s stock worth $3,944,000 after acquiring an additional 3,800 shares during the last quarter. 74.74% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Eversource Energy (NYSE:ES)

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