Eversource Energy (NYSE:ES) Coverage Initiated at The Goldman Sachs Group

Analysts at The Goldman Sachs Group initiated coverage on shares of Eversource Energy (NYSE:ES - Get Free Report) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $73.00 price target on the utilities provider's stock. The Goldman Sachs Group's target price indicates a potential upside of 23.58% from the company's current price.

A number of other equities research analysts have also weighed in on the stock. Citigroup boosted their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Wells Fargo & Company upped their price objective on Eversource Energy from $67.00 to $69.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 9th. Guggenheim upgraded Eversource Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. BMO Capital Markets upped their price objective on Eversource Energy from $63.00 to $64.00 and gave the stock a "market perform" rating in a research note on Thursday, February 15th. Finally, UBS Group upgraded Eversource Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $66.08.

Eversource Energy Stock Down 1.5 %

ES stock traded down $0.89 during midday trading on Wednesday, hitting $59.07. The company's stock had a trading volume of 2,344,794 shares, compared to its average volume of 3,084,967. The company has a market cap of $20.72 billion, a PE ratio of -47.59, a P/E/G ratio of 3.16 and a beta of 0.58. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $80.49. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The firm's 50-day moving average is $57.92 and its 200-day moving average is $57.79.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.02). The company had revenue of $2.69 billion for the quarter, compared to analysts' expectations of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. Eversource Energy's quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, equities research analysts forecast that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Eversource Energy news, insider Faasen William C. Van sold 2,714 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $54.50, for a total value of $147,913.00. Following the completion of the sale, the insider now owns 19,619 shares in the company, valued at approximately $1,069,235.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Linda Dorcena Forry sold 822 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Faasen William C. Van sold 2,714 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $54.50, for a total transaction of $147,913.00. Following the transaction, the insider now owns 19,619 shares of the company's stock, valued at approximately $1,069,235.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,250 shares of company stock worth $352,014. Corporate insiders own 0.29% of the company's stock.

Institutional Trading of Eversource Energy

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Eversource Energy by 10.8% during the third quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider's stock worth $26,168,000 after acquiring an additional 43,720 shares during the last quarter. OLD Republic International Corp bought a new stake in Eversource Energy during the third quarter worth approximately $27,283,000. Natixis Advisors L.P. increased its stake in Eversource Energy by 11.2% during the third quarter. Natixis Advisors L.P. now owns 172,017 shares of the utilities provider's stock worth $10,003,000 after acquiring an additional 17,345 shares during the last quarter. Morgan Stanley increased its stake in Eversource Energy by 19.3% during the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider's stock worth $259,595,000 after acquiring an additional 723,318 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Eversource Energy by 10.4% during the third quarter. Sei Investments Co. now owns 230,960 shares of the utilities provider's stock worth $13,430,000 after acquiring an additional 21,760 shares during the last quarter. 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.