Barclays Initiates Coverage on Eversource Energy (NYSE:ES)

Stock analysts at Barclays assumed coverage on shares of Eversource Energy (NYSE:ES) in a report issued on Friday. The firm set an “equal weight” rating and a $76.00 price target on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 5.59% from the stock’s previous close.

ES has been the subject of a number of other research reports. Weiss Ratings raised shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. BMO Capital Markets lowered their price target on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price target on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Mizuho upped their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, HSBC assumed coverage on shares of Eversource Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $70.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average price target of $73.17.

Eversource Energy Trading Up 2.2%

NYSE ES opened at $71.98 on Friday. The firm has a market capitalization of $27.11 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. The business’s 50-day moving average price is $67.37 and its two-hundred day moving average price is $70.03. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. Eversource Energy has a 12 month low of $62.72 and a 12 month high of $76.57.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.20 billion. Eversource Energy had a return on equity of 10.68% and a net margin of 10.38%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. On average, analysts expect that Eversource Energy will post 4.63 EPS for the current year.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently made changes to their positions in ES. BlackRock Inc. bought a new stake in Eversource Energy in the second quarter worth approximately $3,086,413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Eversource Energy by 1.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,620,413 shares of the utilities provider’s stock worth $478,457,000 after buying an additional 88,163 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Eversource Energy during the 2nd quarter worth approximately $359,215,000. Deutsche Bank AG bought a new position in shares of Eversource Energy during the 2nd quarter worth approximately $311,548,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Eversource Energy during the 2nd quarter worth approximately $272,105,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.