Jefferies Financial Group Issues Pessimistic Forecast for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its price target dropped by equities researchers at Jefferies Financial Group from $52.00 to $47.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the utilities provider’s stock. Jefferies Financial Group’s price target would suggest a potential downside of 18.55% from the company’s current price.

ES has been the topic of several other reports. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Mizuho upped their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Barclays dropped their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. BMO Capital Markets dropped their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Finally, Scotiabank cut Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the company from $66.00 to $56.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.42.

Eversource Energy Stock Down 0.9 %

Shares of Eversource Energy stock traded down $0.53 during trading on Tuesday, reaching $57.70. The stock had a trading volume of 3,574,057 shares, compared to its average volume of 2,519,779. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of -36.75, a P/E/G ratio of 2.13 and a beta of 0.62. The stock has a fifty day moving average price of $58.93 and a two-hundred day moving average price of $62.92. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a 52 week low of $52.71 and a 52 week high of $69.01.

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

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ES. State Street Corp grew its stake in shares of Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Eversource Energy in the 3rd quarter valued at about $808,783,000. Geode Capital Management LLC grew its position in shares of Eversource Energy by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after buying an additional 268,588 shares during the last quarter. FMR LLC grew its position in shares of Eversource Energy by 2.7% in the 3rd quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after buying an additional 185,381 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eversource Energy by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after buying an additional 216,630 shares during the last quarter. 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.