Bank of America Has Lowered Expectations for Eversource Energy (NYSE:ES) Stock Price
by Mitch Edgeman · The Markets DailyEversource Energy (NYSE:ES – Get Free Report) had its target price reduced by analysts at Bank of America from $82.00 to $73.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price target points to a potential upside of 7.80% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. Mizuho reduced their target price on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday. BMO Capital Markets dropped their price target on shares of Eversource Energy from $79.00 to $75.00 and set a “market perform” rating for the company in a research note on Monday. JPMorgan Chase & Co. upped their price target on shares of Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Wells Fargo & Company raised shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $71.00 to $78.00 in a research report on Tuesday, February 17th. Finally, Argus raised shares of Eversource Energy to a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.20.
Check Out Our Latest Stock Analysis on Eversource Energy
Eversource Energy Trading Down 0.4%
Shares of NYSE:ES traded down $0.25 during trading on Friday, hitting $67.72. The company had a trading volume of 202,760 shares, compared to its average volume of 2,654,173. The stock has a market cap of $25.43 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 2.90 and a beta of 0.76. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59. The company has a fifty day simple moving average of $71.37 and a two-hundred day simple moving average of $69.96. Eversource Energy has a one year low of $52.28 and a one year high of $76.41.
Eversource Energy (NYSE:ES – Get Free Report) last released its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.94 billion. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.
Insider Activity
In other news, insider Cotton M. Cleveland sold 2,581 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the transaction, the insider directly owned 79,364 shares in the company, valued at approximately $5,941,982.68. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Y. Kim sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.57, for a total transaction of $441,420.00. Following the completion of the transaction, the insider directly owned 12,339 shares in the company, valued at $907,780.23. This represents a 32.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,381 shares of company stock valued at $1,211,079. 0.41% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Eversource Energy
A number of institutional investors have recently modified their holdings of ES. Lodestone Wealth Management LLC bought a new position in Eversource Energy in the fourth quarter worth approximately $25,000. Root Financial Partners LLC bought a new stake in Eversource Energy during the 3rd quarter valued at $26,000. Activest Wealth Management lifted its holdings in shares of Eversource Energy by 2,337.5% in the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after buying an additional 374 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Eversource Energy in the 3rd quarter worth $27,000. Finally, TFC Financial Management Inc. grew its position in shares of Eversource Energy by 2,857.1% during the 4th quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after buying an additional 400 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.
About Eversource Energy
Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.
Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.