Eversource Energy (NYSE:ES) Reaches New 1-Year High at $68.89

Eversource Energy (NYSE:ES - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $68.89 and last traded at $68.68, with a volume of 2132 shares trading hands. The stock had previously closed at $68.17.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com lowered Eversource Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 27th. Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. BMO Capital Markets dropped their target price on Eversource Energy from $73.00 to $70.00 and set a "market perform" rating on the stock in a report on Monday, August 19th. Morgan Stanley lifted their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, August 23rd. Finally, Scotiabank increased their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $68.93.

Eversource Energy Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a market cap of $23.97 billion, a price-to-earnings ratio of -57.67, a PEG ratio of 2.58 and a beta of 0.59. The stock's 50 day moving average is $63.21 and its two-hundred day moving average is $60.56.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. Analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ES. Heritage Wealth Advisors purchased a new position in shares of Eversource Energy in the fourth quarter valued at $25,000. Lynx Investment Advisory acquired a new position in Eversource Energy during the second quarter worth about $25,000. Rise Advisors LLC purchased a new stake in shares of Eversource Energy in the first quarter valued at about $27,000. Versant Capital Management Inc grew its position in shares of Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in shares of Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider's stock worth $33,000 after purchasing an additional 181 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.