Eversource Energy (NYSE:ES) Given New $68.00 Price Target at Bank of America

Eversource Energy (NYSE:ES - Get Free Report) had its price objective raised by equities researchers at Bank of America from $67.00 to $68.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the utilities provider's stock. Bank of America's price target would indicate a potential upside of 2.01% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Eversource Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 27th. Morgan Stanley lifted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, August 23rd. Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, BMO Capital Markets lowered their price target on shares of Eversource Energy from $73.00 to $70.00 and set a "market perform" rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $68.93.

Eversource Energy Trading Down 0.6 %

Shares of NYSE ES traded down $0.38 during midday trading on Thursday, hitting $66.66. The company's stock had a trading volume of 1,088,605 shares, compared to its average volume of 2,506,019. The business's 50 day moving average is $62.20 and its two-hundred day moving average is $60.18. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $68.72. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The firm has a market cap of $23.48 billion, a P/E ratio of -56.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.59.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting 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 company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the business posted $1.00 EPS. Eversource Energy's quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 2,700 shares of the business's stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Penelope M. Conner sold 2,700 shares of the business's stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares of the company's stock, valued at $603,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the firm'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 completion of 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. Over the last 90 days, insiders have sold 4,015 shares of company stock worth $244,478. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Eversource Energy

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Eversource Energy by 24.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider's stock valued at $4,232,000 after acquiring an additional 13,950 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Eversource Energy by 38.3% in the first quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider's stock valued at $3,394,000 after purchasing an additional 15,714 shares during the last quarter. Great Oak Capital Partners LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $1,047,000. Cibc World Markets Corp lifted its position in Eversource Energy by 133.3% during the fourth quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider's stock worth $2,775,000 after buying an additional 25,688 shares in the last quarter. Finally, Ethic Inc. boosted its stake in Eversource Energy by 23.1% during the fourth quarter. Ethic Inc. now owns 164,721 shares of the utilities provider's stock worth $10,167,000 after buying an additional 30,890 shares during the last quarter. 79.99% of the stock is 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.