Eversource Energy (NYSE:ES) Price Target Raised to $72.00 at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price target lifted by equities research analysts at BMO Capital Markets from $71.00 to $72.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 22.88% from the company’s previous close.

A number of other equities analysts have also recently issued reports on ES. Wells Fargo & Company cut their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Barclays decreased their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Scotiabank decreased their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.78.

Eversource Energy Stock Up 1.3 %

NYSE ES traded up $0.73 on Monday, hitting $58.59. 811,317 shares of the company were exchanged, compared to its average volume of 2,340,778. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a market cap of $21.51 billion, a PE ratio of 25.36, a PEG ratio of 2.35 and a beta of 0.58. The stock has a fifty day moving average of $59.86 and a 200-day moving average of $60.26. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. As a group, analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Insiders Place Their Bets

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

Several hedge funds have recently made changes to their positions in the company. Mizuho Bank Ltd. purchased a new stake in Eversource Energy in the 4th quarter worth about $26,000. Kestra Investment Management LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth about $29,000. Assetmark Inc. raised its position in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Pinney & Scofield Inc. bought a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after buying an additional 301 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

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.