Mizuho Reaffirms Neutral Rating for Eversource Energy (NYSE:ES)

Eversource Energy (NYSE:ES)‘s stock had its “neutral” rating reiterated by stock analysts at Mizuho in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $68.00 price objective on the utilities provider’s stock, down from their previous price objective of $81.00. Mizuho’s price target suggests a potential upside of 3.79% from the company’s current price.

ES has been the topic of several other reports. Jefferies Financial Group lifted their target price on shares of Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. BMO Capital Markets decreased their price objective on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company cut Eversource Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $79.00 to $63.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $69.70.

Eversource Energy Stock Performance

Shares of NYSE ES traded up $0.26 during trading hours on Thursday, reaching $65.52. The stock had a trading volume of 1,018,541 shares, compared to its average volume of 2,763,697. The company has a market cap of $24.58 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 2.74 and a beta of 0.69. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The business’s fifty day moving average is $71.24 and its two-hundred day moving average is $66.81. 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 (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Insider Buying and Selling

In related news, insider Loretta D. Keane acquired 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction on 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 transaction, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eversource Energy

Several large investors have recently made changes to their positions in ES. United Asset Strategies Inc. increased its position in Eversource Energy by 1.0% in the third quarter. United Asset Strategies Inc. now owns 13,288 shares of the utilities provider’s stock worth $945,000 after purchasing an additional 138 shares during the period. Mystic Asset Management Inc. boosted its stake in shares of Eversource Energy by 0.9% in the 3rd quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock valued at $1,177,000 after purchasing an additional 150 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Eversource Energy by 3.3% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock worth $360,000 after buying an additional 162 shares during the period. Parallel Advisors LLC raised its stake in shares of Eversource Energy by 4.9% during the third quarter. Parallel Advisors LLC now owns 3,636 shares of the utilities provider’s stock worth $259,000 after buying an additional 169 shares during the last quarter. Finally, PDS Planning Inc raised its stake in shares of Eversource Energy by 4.7% during the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds 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.