Eversource Energy (NYSE:ES) Price Target Raised to $72.00 at Mizuho

Eversource Energy (NYSE:ES - Get Free Report) had its target price raised by equities researchers at Mizuho from $68.00 to $72.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the utilities provider's stock. Mizuho's target price would indicate a potential upside of 14.39% from the stock's current price.

A number of other brokerages have also recently commented on ES. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. BMO Capital Markets boosted their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $65.67.

Eversource Energy Trading Down 1.4%

NYSE:ES traded down $0.90 during trading hours on Wednesday, hitting $62.94. The company had a trading volume of 164,120 shares, compared to its average volume of 2,857,008. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The stock has a 50-day moving average price of $62.25 and a 200 day moving average price of $60.17. The company has a market capitalization of $23.12 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The firm had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. During the same period last year, the company posted $1.49 EPS. The company's quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 10,988 shares in the company, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Eversource Energy by 105.6% during the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock valued at $287,000 after purchasing an additional 2,374 shares in the last quarter. LSV Asset Management bought a new stake in shares of Eversource Energy during the 4th quarter valued at $2,223,000. JPMorgan Chase & Co. lifted its stake in shares of Eversource Energy by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock valued at $90,146,000 after buying an additional 151,562 shares in the last quarter. Truist Financial Corp increased its stake in Eversource Energy by 5.6% in the 4th quarter. Truist Financial Corp now owns 21,385 shares of the utilities provider's stock worth $1,228,000 after buying an additional 1,138 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Eversource Energy by 9.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider's stock valued at $31,455,000 after acquiring an additional 47,189 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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