Eversource Energy (NYSE:ES) PT Lowered to $75.00

Eversource Energy (NYSE:ES – Get Rating) had its price objective reduced by equities researchers at UBS Group from $81.00 to $75.00 in a note issued to investors on Friday, The Fly reports. UBS Group’s target price would indicate a potential upside of 5.84% from the company’s current price.

ES has been the topic of a number of other research reports. Mizuho cut their target price on Eversource Energy from $87.00 to $79.00 and set a “neutral” rating on the stock in a research note on Monday, April 3rd. Citigroup dropped their price objective on Eversource Energy from $91.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, February 16th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Tuesday, March 21st. StockNews.com assumed coverage on Eversource Energy in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Argus dropped their price objective on Eversource Energy from $95.00 to $85.00 in a research note on Thursday, March 30th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.92.

Eversource Energy Price Performance

NYSE:ES opened at $70.86 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $24.72 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.60 and a beta of 0.46. Eversource Energy has a 12 month low of $70.42 and a 12 month high of $94.41. The business’s 50-day moving average is $76.93 and its 200 day moving average is $79.43.

Eversource Energy (NYSE:ES – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. Eversource Energy had a return on equity of 9.51% and a net margin of 11.52%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Eversource Energy will post 4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in Eversource Energy by 87.7% in the 1st quarter. ProShare Advisors LLC now owns 85,537 shares of the utilities provider’s stock worth $6,694,000 after acquiring an additional 39,968 shares during the last quarter. Empower Advisory Group LLC purchased a new position in Eversource Energy in the 1st quarter worth $62,562,000. Old North State Trust LLC raised its stake in Eversource Energy by 107.4% in the 1st quarter. Old North State Trust LLC now owns 2,508 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 1,299 shares during the last quarter. Toroso Investments LLC raised its stake in Eversource Energy by 4.2% in the 1st quarter. Toroso Investments LLC now owns 4,484 shares of the utilities provider’s stock worth $351,000 after acquiring an additional 179 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in Eversource Energy by 10.8% in the 1st quarter. Raleigh Capital Management Inc. now owns 2,071 shares of the utilities provider’s stock worth $162,000 after acquiring an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

About Eversource Energy

(Get Rating)

Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.