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

Key Points

• TD Cowen has initiated coverage of Eversource Energy, assigning a "hold" rating with a price target of $76.00, indicating a potential upside of 5.25% from the previous close.
• Multiple analysts have rated Eversource Energy with a consensus rating of "Hold", while also noting a range of target prices from $62.00 to $72.00.
• Eversource Energy reported quarterly earnings of $0.96 per share, slightly exceeding expectations, with a 12% increase in revenue compared to the same quarter last year.

Research analysts at TD Cowen started coverage on shares of Eversource Energy (NYSE:ES - Get Free Report) in a report issued on Thursday, MarketBeat.com reports. The firm 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 5.25% from the company's previous close.

Several other research firms also recently issued reports on ES. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday, October 8th. Bank of America increased their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Mizuho increased their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Finally, Janney Montgomery Scott reissued a "neutral" rating on shares of Eversource Energy in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $65.67.

Eversource Energy Stock Up 2.3%

Shares of NYSE ES opened at $72.21 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The company has a market cap of $26.80 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 2.75 and a beta of 0.67. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $74.46. The stock has a 50-day moving average price of $67.01 and a two-hundred day moving average price of $64.11.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Insider Transactions at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of the business's stock in a transaction on Friday, August 22nd. The shares were purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eversource Energy

Hedge funds have recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in Eversource Energy during the 2nd quarter worth $26,000. Trust Co. of Toledo NA OH purchased a new position in Eversource Energy during the 2nd quarter worth $28,000. Elevation Point Wealth Partners LLC purchased a new position in Eversource Energy during the 2nd quarter worth $31,000. Hilltop National Bank purchased a new position in Eversource Energy during the 2nd quarter worth $32,000. Finally, Anchor Investment Management LLC raised its stake in shares of Eversource Energy by 122.0% during the 2nd quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider's stock worth $35,000 after purchasing an additional 300 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.

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