StockNews.com Upgrades Eversource Energy (NYSE:ES) to Hold

Eversource Energy (NYSE:ES) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities research analysts have also issued reports on the stock. Bank of America upped their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Jefferies Financial Group started coverage on Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective on the stock. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Mizuho boosted their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Barclays raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $68.38.

Eversource Energy Price Performance

Shares of ES stock opened at $56.95 on Friday. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a market capitalization of $20.87 billion, a PE ratio of -36.27, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The firm has a fifty day simple moving average of $62.51 and a 200-day simple moving average of $63.06.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of Eversource Energy in the third quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new position in Eversource Energy during the 3rd quarter worth approximately $32,000. UMB Bank n.a. raised its stake in Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Eversource Energy in the third quarter worth $48,000. Institutional investors own 79.99% of the company’s stock.

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.