Eversource Energy (NYSE:ES) Given New $67.00 Price Target at Bank of America

Eversource Energy (NYSE:ES - Get Free Report) had its price target raised by equities research analysts at Bank of America from $62.00 to $67.00 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the utilities provider's stock. Bank of America's price objective suggests a potential upside of 2.43% from the company's current price.

ES has been the subject of several other reports. JPMorgan Chase & Co. reissued an "underweight" rating and set a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Mizuho increased their price objective 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, BMO Capital Markets increased their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.56.

Eversource Energy Stock Up 0.9%

Shares of Eversource Energy stock opened at $65.41 on Monday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The firm's 50-day moving average is $64.20 and its two-hundred day moving average is $61.01. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.44 and a beta of 0.62.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company's quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 earnings per share. As a group, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Insider Activity at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the sale, the executive vice president owned 10,988 shares of the company's stock, valued at $703,232. This trade represents a 19.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Eversource Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock worth $2,792,559,000 after acquiring an additional 351,780 shares in the last quarter. Wellington Management Group LLP increased its holdings in Eversource Energy by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock worth $1,068,901,000 after acquiring an additional 739,448 shares in the last quarter. Geode Capital Management LLC increased its holdings in Eversource Energy by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock worth $547,550,000 after acquiring an additional 517,042 shares in the last quarter. FMR LLC boosted its stake in Eversource Energy by 4.8% during the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock worth $422,259,000 after purchasing an additional 333,529 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its stake in Eversource Energy by 6.2% during the 1st quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock worth $427,090,000 after purchasing an additional 401,866 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

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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