Eversource Energy (NYSE:ES) Price Target Raised to $61.00

Eversource Energy (NYSE:ES - Get Free Report) had its price objective lifted by analysts at Bank of America from $50.00 to $61.00 in a report released on Wednesday, Benzinga reports. The firm presently has an "underperform" rating on the utilities provider's stock. Bank of America's price target indicates a potential upside of 0.78% from the company's current price.

A number of other equities analysts have also recently issued reports on the stock. Barclays cut their target price on shares of Eversource Energy from $66.00 to $61.00 and set an "equal weight" rating for the company in a research report on Monday, January 22nd. Citigroup raised their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. Argus reduced their price objective on Eversource Energy from $85.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, March 25th. BMO Capital Markets raised their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a "market perform" rating in a research note on Friday, May 3rd. Finally, StockNews.com upgraded shares of Eversource Energy to a "sell" rating in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of "Hold" and a consensus target price of $65.86.

Eversource Energy Price Performance

Shares of NYSE ES traded up $0.34 during midday trading on Wednesday, hitting $60.53. The company had a trading volume of 2,108,875 shares, compared to its average volume of 2,806,183. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of -51.25, a price-to-earnings-growth ratio of 3.28 and a beta of 0.57. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $77.17. The business has a 50-day simple moving average of $59.53 and a two-hundred day simple moving average of $58.51. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The business had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company's revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. Equities research analysts anticipate that Eversource Energy will post 4.49 earnings per share for the current year.

Insiders Place Their Bets

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares of the company's stock, valued at approximately $609,388.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares of the company's stock, valued at $609,388.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the transaction, the insider now owns 21,621 shares of the company's stock, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $25,000. Exchange Traded Concepts LLC acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in Eversource Energy during the 1st quarter valued at $27,000. Bfsg LLC acquired a new position in Eversource Energy during the 4th quarter worth $31,000. Finally, Versant Capital Management Inc grew its stake in shares of Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider's stock worth $31,000 after purchasing an additional 201 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.