Janney Montgomery Scott Reaffirms Neutral Rating for Eversource Energy (NYSE:ES)

Key Points

• Janney Montgomery Scott has restated its "neutral" rating for Eversource Energy (NYSE:ES), reflecting ongoing cautious sentiment towards the stock.
• Recent price target adjustments include Bank of America raising its target to $67.00 and Mizuho increasing it to $72.00, indicating mixed opinions among analysts.
• Eversource Energy reported $0.96 EPS for the last quarter, slightly above analysts' expectations, but its revenue fell short of consensus estimates at $2.84 billion.

Eversource Energy (NYSE:ES - Get Free Report)'s stock had its "neutral" rating restated by research analysts at Janney Montgomery Scott in a note issued to investors on Monday,Benzinga reports.

Several other analysts also recently commented on the stock. Bank of America upped their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eversource Energy in a report on Wednesday, October 8th. Finally, Mizuho increased their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $64.38.

Eversource Energy Stock Down 0.1%

Shares of NYSE ES opened at $72.31 on Monday. The stock's fifty day simple moving average is $66.69 and its two-hundred day simple moving average is $63.94. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $74.46. The stock has a market capitalization of $26.84 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.67.

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

Insiders Place Their Bets

In related news, insider Loretta D. Keane acquired 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares of the company's stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Eversource Energy

A number of large investors have recently added to or reduced their stakes in the stock. PDS Planning Inc grew its holdings in shares of Eversource Energy by 4.7% in the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider's stock valued at $244,000 after acquiring an additional 173 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Eversource Energy by 2.9% in the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider's stock worth $393,000 after acquiring an additional 176 shares during the period. Thrive Wealth Management LLC raised its position in shares of Eversource Energy by 3.6% in the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider's stock worth $346,000 after buying an additional 189 shares in the last quarter. Sterling Investment Counsel LLC raised its position 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 buying an additional 190 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. raised its position in shares of Eversource Energy by 1.4% in the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider's stock worth $917,000 after buying an additional 195 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.