Wells Fargo & Company Has Lowered Expectations for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its price target cut by stock analysts at Wells Fargo & Company from $78.00 to $74.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.79% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Wednesday, January 28th. Argus upgraded Eversource Energy to a “strong-buy” rating in a report on Tuesday, March 24th. UBS Group dropped their price target on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their target price on shares of Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Finally, Mizuho reduced their target price on Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.90.

Eversource Energy Price Performance

ES traded up $0.01 during trading on Wednesday, reaching $69.29. 726,691 shares of the stock were exchanged, compared to its average volume of 2,672,389. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $76.41. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59. The business’s 50 day moving average price is $71.26 and its two-hundred day moving average price is $70.13. The company has a market capitalization of $26.04 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 3.67 and a beta of 0.76.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.94 billion. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Activity

In related news, insider John Y. Kim sold 6,000 shares of Eversource Energy stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $73.57, for a total value of $441,420.00. Following the completion of the sale, the insider owned 12,339 shares of the company’s stock, valued at approximately $907,780.23. The trade was a 32.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John M. Moreira sold 7,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $73.90, for a total value of $576,420.00. Following the completion of the transaction, the executive vice president directly owned 43,269 shares in the company, valued at $3,197,579.10. The trade was a 15.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,381 shares of company stock worth $1,211,079 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Eversource Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after acquiring an additional 697,829 shares during the period. State Street Corp raised its stake in Eversource Energy by 4.7% during the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock worth $1,886,119,000 after acquiring an additional 1,265,802 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Eversource Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock worth $646,233,000 after buying an additional 194,781 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Eversource Energy by 61.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock worth $642,747,000 after acquiring an additional 3,645,555 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its position in Eversource Energy by 6.5% during the 3rd quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock worth $526,919,000 after acquiring an additional 454,658 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.