UBS Group Lowers Eversource Energy (NYSE:ES) Price Target to $73.00

by · The Markets Daily

Eversource Energy (NYSE:ES – Get Free Report) had its price target lowered by analysts at UBS Group from $78.00 to $73.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price points to a potential upside of 8.38% from the stock’s current price.

A number of other brokerages have also recently commented on ES. JPMorgan Chase & Co. reduced their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. TD Cowen assumed coverage on Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 target price on the stock. BMO Capital Markets cut their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.27.

Get Our Latest Research Report on Eversource Energy

Eversource Energy Stock Performance

ES stock traded down $0.54 during trading on Wednesday, reaching $67.36. The stock had a trading volume of 1,025,840 shares, compared to its average volume of 2,760,248. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25. The stock’s 50 day moving average is $70.55 and its two-hundred day moving average is $67.34. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The firm has a market cap of $25.27 billion, a PE ratio of 18.45, a PEG ratio of 2.43 and a beta of 0.76.

Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the company posted $1.13 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds have recently bought and sold shares of ES. Allworth Financial LP grew its stake in shares of Eversource Energy by 8.4% in the 3rd quarter. Allworth Financial LP now owns 12,747 shares of the utilities provider’s stock worth $907,000 after buying an additional 992 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Eversource Energy by 43.1% in the 3rd quarter. IFP Advisors Inc now owns 3,084 shares of the utilities provider’s stock valued at $221,000 after acquiring an additional 929 shares during the last quarter. Groupama Asset Managment grew its position in Eversource Energy by 22.0% in the third quarter. Groupama Asset Managment now owns 4,344 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 784 shares in the last quarter. Fulcrum Asset Management LLP increased its stake in Eversource Energy by 8.9% during the third quarter. Fulcrum Asset Management LLP now owns 69,323 shares of the utilities provider’s stock worth $4,932,000 after acquiring an additional 5,661 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Eversource Energy by 10.9% during the third quarter. CIBC Private Wealth Group LLC now owns 14,321 shares of the utilities provider’s stock valued at $1,019,000 after purchasing an additional 1,413 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

(Get Free Report)

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.

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