Bank of America Lowers Eversource Energy (ES) Price Target to $59.00

Eversource Energy (NYSE:ES) had its price target lowered by research analysts at Bank of America from $64.00 to $59.00 in a research report issued on Friday, February 2nd. The firm presently has an “underperform” rating on the utilities provider’s stock. Bank of America’s price objective points to a potential upside of 3.87% from the stock’s current price.

ES has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, January 2nd. Credit Suisse Group cut shares of Eversource Energy from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $63.00 to $59.00 in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital increased their price objective on Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Morgan Stanley increased their price objective on Eversource Energy from $64.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Finally, Citigroup lowered Eversource Energy from a “neutral” rating to a “sell” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $63.63.

Shares of Eversource Energy (ES) traded down $0.22 on Friday, hitting $56.80. The stock had a trading volume of 607,134 shares, compared to its average volume of 3,077,311. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market capitalization of $18,068.83, a PE ratio of 18.51, a PEG ratio of 2.86 and a beta of 0.27. Eversource Energy has a 12-month low of $55.20 and a 12-month high of $66.15.

Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Eversource Energy by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,755 shares of the utilities provider’s stock worth $55,106,000 after purchasing an additional 10,934 shares in the last quarter. Troy Asset Management Ltd increased its stake in Eversource Energy by 14.4% in the 3rd quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock worth $3,354,000 after acquiring an additional 7,000 shares during the last quarter. Toronto Dominion Bank increased its stake in Eversource Energy by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock worth $6,516,000 after acquiring an additional 21,833 shares during the last quarter. California State Teachers Retirement System increased its stake in Eversource Energy by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 658,814 shares of the utilities provider’s stock worth $39,997,000 after acquiring an additional 6,929 shares during the last quarter. Finally, Commerce Bank increased its stake in Eversource Energy by 1.2% in the 3rd quarter. Commerce Bank now owns 346,419 shares of the utilities provider’s stock worth $20,938,000 after acquiring an additional 4,160 shares during the last quarter. 71.58% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was originally published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this article on another publication, it was illegally stolen and republished in violation of United States & international copyright and trademark law. The correct version of this article can be read at https://www.thelincolnianonline.com/2018/02/12/bank-of-america-cuts-eversource-energy-es-price-target-to-59-00-updated.html.

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, Massachusetts, and New Hampshire and the regulated electric generation businesses.

Analyst Recommendations for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply