Brokerages Set Eversource Energy (NYSE:ES) Target Price at $68.93

Eversource Energy (NYSE:ES - Get Free Report) has been given an average rating of "Hold" by the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $68.93.

Several equities analysts recently commented on the company. Bank of America boosted their price target on Eversource Energy from $67.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Barclays boosted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an "equal weight" rating in a research report on Monday, July 22nd. StockNews.com cut shares of Eversource Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 27th. Morgan Stanley increased their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd.

Eversource Energy Stock Performance

Eversource Energy stock traded down $0.66 on Friday, hitting $67.39. The company's stock had a trading volume of 1,104,569 shares, compared to its average volume of 2,486,525. Eversource Energy has a one year low of $52.03 and a one year high of $69.01. The firm has a market cap of $23.74 billion, a P/E ratio of -57.12, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The company has a fifty day moving average price of $63.43 and a 200-day moving average price of $60.61.

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

Insider Buying and Selling at Eversource Energy

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

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors acquired a new position in Eversource Energy in the 4th quarter valued at $25,000. Lynx Investment Advisory bought a new stake in Eversource Energy in the 2nd quarter valued at about $25,000. Rise Advisors LLC bought a new position in shares of Eversource Energy during the first quarter worth approximately $27,000. Versant Capital Management Inc grew its position in Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider's stock worth $31,000 after buying an additional 201 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in 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 acquiring an additional 181 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

About Eversource Energy

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.