Morgan Stanley Boosts Eversource Energy (ES) Price Target to $66.00
Eversource Energy (NYSE:ES) had its price objective hoisted by equities researchers at Morgan Stanley from $64.00 to $66.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 6.08% from the stock’s current price.
ES has been the subject of a number of other reports. Credit Suisse Group reissued a “hold” rating and set a $59.00 price target on shares of Eversource Energy in a research note on Tuesday, June 6th. Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the stock a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, June 13th. Barclays PLC reissued an “equal weight” rating and set a $66.00 price target (up from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Finally, BMO Capital Markets raised their price target on Eversource Energy from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.95.
Eversource Energy (NYSE ES) traded up 0.79% during trading on Thursday, hitting $62.22. The stock had a trading volume of 2,114,018 shares. The stock has a 50 day moving average price of $60.99 and a 200-day moving average price of $59.53. Eversource Energy has a 12 month low of $50.56 and a 12 month high of $63.34. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 20.14 and a beta of 0.28.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $0.64 EPS. Eversource Energy’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts predict that Eversource Energy will post $3.15 EPS for the current year.
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In other Eversource Energy news, VP Werner J. Schweiger sold 36,736 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $2,277,632.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. purchased a new position in Eversource Energy during the first quarter valued at approximately $106,000. Advisory Services Network LLC purchased a new position in Eversource Energy during the first quarter valued at approximately $112,000. Northwestern Mutual Wealth Management Co. increased its position in Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock valued at $119,000 after buying an additional 400 shares during the last quarter. NEXT Financial Group Inc increased its position in Eversource Energy by 168.9% in the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,520 shares during the last quarter. Finally, First Personal Financial Services increased its position in Eversource Energy by 180.2% in the first quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock valued at $151,000 after buying an additional 1,651 shares during the last quarter. Institutional investors own 71.03% of the company’s stock.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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