Scotiabank Boosts Eversource Energy (NYSE:ES) Price Target to $66.00

Eversource Energy (NYSE:ES - Free Report) had its price objective increased by Scotiabank from $57.00 to $66.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a sector perform rating on the utilities provider's stock.

Several other analysts have also issued reports on ES. Wells Fargo & Company lifted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Bank of America upgraded shares of Eversource Energy from an underperform rating to a neutral rating and set a $61.00 price target for the company in a research report on Tuesday, June 25th. StockNews.com downgraded Eversource Energy from a hold rating to a sell rating in a report on Saturday, July 27th. Barclays increased their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an equal weight rating in a report on Monday, July 22nd. Finally, Morgan Stanley lowered their target price on Eversource Energy from $70.00 to $67.00 and set an equal weight rating for the company in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $67.86.

Eversource Energy Stock Performance

Shares of NYSE:ES traded up $0.16 during trading on Tuesday, hitting $66.00. The stock had a trading volume of 2,194,002 shares, compared to its average volume of 2,542,426. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $68.72. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of -55.93, a price-to-earnings-growth ratio of 2.53 and a beta of 0.59. The stock has a 50-day simple moving average of $61.19 and a two-hundred day simple moving average of $59.69.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts expect 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 500 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company's stock, valued at $639,464.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Penelope M. Conner sold 500 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,015 shares of company stock worth $806,478. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in Eversource Energy during the 2nd quarter valued at about $935,000. B. Riley Wealth Advisors Inc. increased its stake in Eversource Energy by 45.2% in the second quarter. B. Riley Wealth Advisors Inc. now owns 5,496 shares of the utilities provider's stock valued at $312,000 after purchasing an additional 1,711 shares during the last quarter. Quarry LP lifted its position in Eversource Energy by 203.7% during the second quarter. Quarry LP now owns 3,204 shares of the utilities provider's stock worth $182,000 after buying an additional 2,149 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Eversource Energy by 15.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,506 shares of the utilities provider's stock worth $766,000 after buying an additional 1,846 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in Eversource Energy by 3.5% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,065,914 shares of the utilities provider's stock worth $60,448,000 after buying an additional 36,112 shares during 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.