Eversource Energy (ES) Given New $71.00 Price Target at Morgan Stanley

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Eversource Energy (NYSE:ES) had its price objective boosted by equities research analysts at Morgan Stanley from $69.00 to $71.00 in a research note issued on Tuesday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 1.21% from the stock’s current price.

A number of other brokerages also recently commented on ES. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Wednesday, November 28th. ValuEngine raised shares of Eversource Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Guggenheim reaffirmed a “buy” rating and issued a $72.00 price target on shares of Eversource Energy in a report on Monday, January 7th. Goldman Sachs Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, January 30th. Finally, Barclays began coverage on shares of Eversource Energy in a report on Monday, October 22nd. They issued a “hold” rating and a $64.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Eversource Energy currently has a consensus rating of “Buy” and an average target price of $67.36.

ES opened at $70.15 on Tuesday. Eversource Energy has a 52 week low of $52.76 and a 52 week high of $70.53. The stock has a market cap of $22.20 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 3.46 and a beta of 0.32. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Eversource Energy by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 34,614,034 shares of the utilities provider’s stock worth $2,126,686,000 after purchasing an additional 436,242 shares during the period. Vanguard Group Inc increased its position in shares of Eversource Energy by 1.3% during the third quarter. Vanguard Group Inc now owns 34,614,034 shares of the utilities provider’s stock worth $2,126,686,000 after acquiring an additional 436,242 shares during the period. BlackRock Inc. increased its position in shares of Eversource Energy by 2.4% during the fourth quarter. BlackRock Inc. now owns 28,130,030 shares of the utilities provider’s stock worth $1,829,577,000 after acquiring an additional 661,442 shares during the period. Bank of New York Mellon Corp increased its position in shares of Eversource Energy by 100,075.7% during the third quarter. Bank of New York Mellon Corp now owns 15,640,429 shares of the utilities provider’s stock worth $960,950,000 after acquiring an additional 15,624,816 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Eversource Energy by 15.2% during the third quarter. Renaissance Technologies LLC now owns 3,750,080 shares of the utilities provider’s stock worth $230,405,000 after acquiring an additional 494,200 shares during the period. 74.24% of the stock is currently owned by institutional investors.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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