Jefferies Financial Group Forecasts Strong Price Appreciation for Eversource Energy (NYSE:ES) Stock

Key Points

• Jefferies Financial Group has raised its price target for Eversource Energy from $54.00 to $60.00, indicating a potential downside of 17.89% based on the stock's previous close.
• Multiple analysts have varied ratings on Eversource Energy, with four analysts rating it as a Buy and an average consensus price target of $69.11, while the stock currently holds a "Hold" rating.
• Eversource Energy's stock has experienced a slight decline of 0.2%, currently trading at $73.07, while the company reported a revenue increase of 12.0% year-over-year despite falling short of previous forecasts.

Eversource Energy (NYSE:ES - Get Free Report) had its price objective hoisted by research analysts at Jefferies Financial Group from $54.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "underperform" rating on the utilities provider's stock. Jefferies Financial Group's price target suggests a potential downside of 17.89% from the stock's previous close.

Several other analysts also recently weighed in on ES. Weiss Ratings restated a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday, October 8th. TD Cowen started coverage on Eversource Energy in a research note on Thursday, October 16th. They set a "hold" rating and a $76.00 target price for the company. Bank of America upgraded Eversource Energy from a "neutral" rating to a "buy" rating and increased their target price for the company from $73.00 to $85.00 in a research note on Tuesday. Mizuho increased their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Finally, Janney Montgomery Scott reaffirmed a "neutral" rating on shares of Eversource Energy in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $69.11.

Eversource Energy Stock Down 0.2%

Shares of ES traded down $0.14 during trading hours on Wednesday, hitting $73.07. 551,760 shares of the company were exchanged, compared to its average volume of 2,753,504. The company has a market cap of $27.12 billion, a PE ratio of 31.36, a PEG ratio of 2.84 and a beta of 0.67. The firm's 50 day moving average is $67.56 and its 200-day moving average is $64.44. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $74.46. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share 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 firm 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 company earned $0.95 EPS. The firm's revenue for the quarter 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. On average, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the transaction, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ES. Vanguard Group Inc. raised its stake in Eversource Energy by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider's stock worth $2,904,422,000 after buying an additional 691,165 shares during the period. State Street Corp raised its stake in Eversource Energy by 1.7% during the 2nd quarter. State Street Corp now owns 27,343,038 shares of the utilities provider's stock worth $1,739,564,000 after buying an additional 465,822 shares during the period. Wellington Management Group LLP raised its stake in Eversource Energy by 4.5% during 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 buying an additional 739,448 shares during the period. Geode Capital Management LLC raised its stake in Eversource Energy by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider's stock worth $587,449,000 after buying an additional 211,962 shares during the period. Finally, Magellan Asset Management Ltd raised its stake in Eversource Energy by 1.1% during the 2nd quarter. Magellan Asset Management Ltd now owns 6,952,127 shares of the utilities provider's stock worth $442,294,000 after buying an additional 75,784 shares during the period. 79.99% of the stock is currently 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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