Eversource Energy (NYSE:ES) Price Target Increased to $78.00 by Analysts at Morgan Stanley

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Eversource Energy (NYSE:ES) had its price target upped by investment analysts at Morgan Stanley from $74.00 to $78.00 in a report released on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 1.73% from the stock’s previous close.

A number of other research analysts also recently issued reports on ES. Zacks Investment Research downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. UBS Group lifted their price target on shares of Eversource Energy from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. KeyCorp started coverage on shares of Eversource Energy in a research report on Tuesday, June 4th. They set an “overweight” rating and a $80.00 price objective for the company. Williams Capital restated a “buy” rating on shares of Eversource Energy in a research report on Monday, March 18th. Finally, Bank of America downgraded shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 price objective for the company. in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $72.58.

Eversource Energy stock opened at $76.67 on Friday. Eversource Energy has a 12-month low of $53.40 and a 12-month high of $77.73. The stock has a market cap of $24.28 billion, a P/E ratio of 23.38, a PEG ratio of 3.96 and a beta of 0.26. The company has a quick ratio of 0.44, a current ratio of 0.50 and a debt-to-equity ratio of 1.06.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Eversource Energy had a net margin of 12.50% and a return on equity of 9.43%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts predict that Eversource Energy will post 3.45 earnings per share for the current year.

In other Eversource Energy news, EVP Leon J. Olivier sold 7,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $72.95, for a total value of $510,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of ES. Centersquare Investment Management LLC grew its position in Eversource Energy by 368,643.4% in the first quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 3,575,841 shares in the last quarter. Norges Bank purchased a new position in shares of Eversource Energy during the 4th quarter valued at approximately $166,695,000. Commonwealth Bank of Australia boosted its stake in shares of Eversource Energy by 6,196.5% during the 4th quarter. Commonwealth Bank of Australia now owns 2,325,159 shares of the utilities provider’s stock valued at $151,213,000 after buying an additional 2,288,231 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Eversource Energy by 6,323.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,217,214 shares of the utilities provider’s stock valued at $34,000 after buying an additional 2,182,698 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in shares of Eversource Energy by 94.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 2,559,184 shares of the utilities provider’s stock valued at $181,574,000 after buying an additional 1,243,788 shares during the last quarter. 73.75% of the stock is 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 four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

Read More: What is diluted earnings per share (Diluted EPS)?

Analyst Recommendations for Eversource Energy (NYSE:ES)

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