Eversource Energy (ES) Given New $63.00 Price Target at Credit Suisse Group
Eversource Energy (NYSE:ES) had its price objective raised by analysts at Credit Suisse Group from $60.00 to $63.00 in a report issued on Monday. The firm presently has a “neutral” rating on the utilities provider’s stock. Credit Suisse Group’s price target points to a potential upside of 4.24% from the company’s current price.
A number of other brokerages also recently issued reports on ES. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Morgan Stanley lifted their target price on Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the stock a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating and raised their price objective for the stock from $61.00 to $61.50 in a research report on Monday, July 31st. Finally, Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, June 21st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Eversource Energy currently has an average rating of “Hold” and an average price target of $63.94.
Shares of Eversource Energy (NYSE:ES) traded up 0.23% during midday trading on Monday, reaching $60.58. 742,130 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $62.57 and a 200-day moving average price of $60.87. The stock has a market cap of $19.20 billion, a P/E ratio of 19.61 and a beta of 0.29. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $64.19.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. Analysts forecast that Eversource Energy will post $3.15 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. BB&T Securities LLC bought a new stake in Eversource Energy during the 2nd quarter worth approximately $1,033,000. Teacher Retirement System of Texas bought a new position in shares of Eversource Energy in the second quarter valued at approximately $200,000. Brookfield Asset Management Inc. bought a new position in shares of Eversource Energy in the first quarter valued at approximately $106,000. Lazard Asset Management LLC bought a new position in shares of Eversource Energy in the first quarter valued at approximately $9,867,000. Finally, KCG Holdings Inc. boosted its position in shares of Eversource Energy by 78.9% during the first quarter. KCG Holdings Inc. now owns 23,680 shares of the utilities provider’s stock valued at $1,392,000 after buying an additional 10,443 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.
Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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