BMO Capital Markets Forecasts Strong Price Appreciation for Eversource Energy (NYSE:ES) Stock

Eversource Energy (NYSE:ES - Get Free Report) had its target price boosted by equities researchers at BMO Capital Markets from $71.00 to $72.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the utilities provider's stock. BMO Capital Markets' price objective indicates a potential upside of 22.88% from the stock's current price.

Several other analysts also recently commented on ES. Scotiabank dropped their target price on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Jefferies Financial Group dropped their price target on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price objective on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of "Hold" and an average price target of $65.78.

Eversource Energy Trading Up 1.3 %

Shares of NYSE ES traded up $0.73 during mid-day trading on Monday, hitting $58.59. The company's stock had a trading volume of 811,317 shares, compared to its average volume of 2,340,778. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The company's fifty day simple moving average is $59.86 and its 200-day simple moving average is $60.26.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eversource Energy

Large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its holdings in Eversource Energy by 10.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider's stock valued at $107,000 after buying an additional 176 shares during the last quarter. Sterling Investment Counsel LLC lifted its stake in shares of Eversource Energy by 4.9% in the first quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock worth $255,000 after acquiring an additional 190 shares during the period. UMB Bank n.a. boosted its holdings in Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 197 shares during the last quarter. Summit Trail Advisors LLC increased its position in Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider's stock valued at $281,000 after purchasing an additional 216 shares during the period. Finally, Ascent Group LLC raised its holdings in Eversource Energy by 1.2% during the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock worth $1,129,000 after purchasing an additional 230 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

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.

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