Eversource Energy (NYSE:ES) Given New $73.00 Price Target at UBS Group

Eversource Energy (NYSE:ES) had its price objective lowered by research analysts at UBS Group from $78.00 to $73.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective suggests a potential upside of 8.38% from the stock’s current price.

Several other brokerages also recently weighed in on ES. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Monday, November 24th. BMO Capital Markets lowered their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research note on Thursday, November 6th. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Finally, Wells Fargo & Company lowered shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $79.00 to $63.00 in a report on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.27.

Eversource Energy Trading Down 0.8%

Shares of ES traded down $0.54 during midday trading on Wednesday, hitting $67.36. The stock had a trading volume of 1,025,840 shares, compared to its average volume of 2,760,248. The stock’s 50 day moving average is $70.55 and its 200 day moving average is $67.34. The firm has a market cap of $25.27 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25.

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

Insider Buying and Selling

In other news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

A number of large investors have recently bought and sold shares of ES. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Eversource Energy by 7.9% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 419,251 shares of the utilities provider’s stock valued at $26,673,000 after acquiring an additional 30,641 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Eversource Energy during the second quarter worth $32,000. Advisors Asset Management Inc. lifted its holdings in shares of Eversource Energy by 31.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock valued at $2,506,000 after purchasing an additional 9,350 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Eversource Energy by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock worth $2,904,422,000 after purchasing an additional 691,165 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Eversource Energy in the 2nd quarter worth $477,000. Institutional investors own 79.99% of the company’s stock.

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.