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. The company operates regulated water utilities that provide water services to approximately 226,000 customers. It serves residential, commercial, industrial, municipal and fire protection, and other customers in Connecticut, Massachusetts, and New Hampshire. The company was formerly known as Northeast Utilities and changed its name to Eversource Energy in April 2015. Eversource Energy is based in Springfield, Massachusetts.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Barclays cut their price target on Eversource Energy from $97.00 to $89.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Morgan Stanley cut their target price on shares of Eversource Energy from $97.00 to $94.00 and set an "equal weight" rating for the company in a research report on Monday, May 23rd. Wells Fargo & Company boosted their price target on shares of Eversource Energy from $92.00 to $97.00 in a research note on Thursday, May 5th. Evercore ISI lowered their price target on shares of Eversource Energy to $91.00 in a research note on Tuesday. Finally, Credit Suisse Group boosted their price target on shares of Eversource Energy to $90.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $91.00.
Eversource Energy Trading Up 0.8 %
ES Stock traded up $0.70 during trading on Wednesday, reaching $91.63. The company had a trading volume of 1,467,931 shares, compared to its average volume of 1,744,356. Eversource Energy has a 52 week low of $77.07 and a 52 week high of $94.63. The company has a market cap of $31.74 billion, a P/E ratio of 23.92, a PEG ratio of 3.51 and a beta of 0.45. The business has a 50 day moving average of $85.53 and a 200 day moving average of $86.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.77 and a quick ratio of 0.71.
Insiders Place Their Bets
In other Eversource Energy news, VP Jay S. Buth sold 650 shares of the company's stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $92.55, for a total value of $60,157.50. Following the sale, the vice president now owns 17,516 shares in the company, valued at $1,621,105.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Penelope M. Conner sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $91.75, for a total transaction of $367,000.00. Following the sale, the executive vice president now owns 4,979 shares in the company, valued at $456,823.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jay S. Buth sold 650 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $92.55, for a total transaction of $60,157.50. Following the sale, the vice president now owns 17,516 shares in the company, valued at approximately $1,621,105.80. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.