TD Cowen Begins Coverage on Eversource Energy (NYSE:ES)

TD Cowen initiated coverage on shares of Eversource Energy (NYSE:ES) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set a “hold” rating and a $76.00 price target on the utilities provider’s stock. TD Cowen’s price objective suggests a potential upside of 4.80% from the company’s current price.

ES has been the topic of a number of other reports. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a research note on Wednesday, October 8th. Mizuho boosted their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Finally, Bank of America boosted their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and an average target price of $65.67.

Eversource Energy Trading Up 1.6%

NYSE ES opened at $72.52 on Thursday. The firm’s 50-day moving average is $67.27 and its two-hundred day moving average is $64.25. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $74.46. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The stock has a market capitalization of $26.91 billion, a P/E ratio of 31.12, a PEG ratio of 2.78 and a beta of 0.67.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares of the company’s stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds have recently modified their holdings of the stock. HM Payson & Co. acquired a new stake in shares of Eversource Energy during the third quarter worth $136,000. Ethic Inc. raised its position in Eversource Energy by 1.3% in the third quarter. Ethic Inc. now owns 152,958 shares of the utilities provider’s stock worth $10,881,000 after acquiring an additional 2,026 shares in the last quarter. Perigon Wealth Management LLC raised its position in Eversource Energy by 34.2% in the third quarter. Perigon Wealth Management LLC now owns 5,841 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 1,488 shares in the last quarter. Apella Capital LLC raised its position in Eversource Energy by 5.2% in the third quarter. Apella Capital LLC now owns 4,366 shares of the utilities provider’s stock worth $312,000 after acquiring an additional 214 shares in the last quarter. Finally, Ellsworth Advisors LLC raised its position in Eversource Energy by 10.8% in the third quarter. Ellsworth Advisors LLC now owns 17,075 shares of the utilities provider’s stock worth $1,233,000 after acquiring an additional 1,661 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.