Eversource Energy (NYSE:ES) Coverage Initiated by Analysts at HSBC

Key Points

• HSBC initiated coverage of Eversource Energy with a Hold rating and a $70 price target, implying 6.73% upside from the prior close.
• Analyst sentiment remains mixed but leans toward Hold: the consensus rating is “Hold,” with an average target price of $72.91 based on four Buy, six Hold, and three Sell ratings.
• Eversource reported quarterly EPS of $0.87, matching estimates, while revenue of $2.90 billion fell short of forecasts; institutional investors own approximately 80% of the company’s stock.

Investment analysts at HSBC started coverage on shares of Eversource Energy (NYSE:ES - Get Free Report) in a report issued on Thursday, Briefing.com reports. The firm set a "hold" rating and a $70.00 price target on the utilities provider's stock. HSBC's target price suggests a potential upside of 6.73% from the stock's previous close.

Several other brokerages also recently weighed in on ES. BMO Capital Markets cut their price target on Eversource Energy from $73.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on Eversource Energy from $75.00 to $76.00 and gave the company an "overweight" rating in a report on Thursday, July 2nd. Weiss Ratings upgraded Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. Mizuho raised their target price on Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Finally, Citigroup reaffirmed a "hold" rating and set a $81.00 target price on shares of Eversource Energy in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned 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 $72.91.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $65.59 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The stock's fifty day moving average price is $68.05 and its 200-day moving average price is $69.76. The firm has a market cap of $24.70 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.85 and a beta of 0.67. Eversource Energy has a 12 month low of $62.72 and a 12 month high of $76.57.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. Eversource Energy's revenue was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities research analysts expect that Eversource Energy will post 4.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eversource Energy

Institutional investors have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC increased its position in shares of Eversource Energy by 76.7% during the third quarter. Axxcess Wealth Management LLC now owns 6,179 shares of the utilities provider's stock worth $396,000 after acquiring an additional 2,683 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Eversource Energy by 3.4% in the third quarter. Nisa Investment Advisors LLC now owns 71,673 shares of the utilities provider's stock valued at $4,599,000 after purchasing an additional 2,344 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Eversource Energy by 43.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,649,209 shares of the utilities provider's stock valued at $105,813,000 after purchasing an additional 499,666 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Eversource Energy during the 3rd quarter valued at approximately $241,000. Finally, Revisor Wealth Management LLC grew its stake in Eversource Energy by 1.4% during the 3rd quarter. Revisor Wealth Management LLC now owns 12,020 shares of the utilities provider's stock valued at $792,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

About Eversource Energy

Eversource Energy NYSE: ES is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.

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