UBS Group Boosts Eversource Energy (NYSE:ES) Price Target to $85.00

Eversource Energy (NYSE:ES) had its price target increased by equities research analysts at UBS Group from $81.00 to $85.00 in a note issued to investors on Friday, June 7th, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the utilities provider’s stock. UBS Group’s target price would suggest a potential upside of 12.34% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. KeyCorp started coverage on Eversource Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 target price on the stock. Credit Suisse Group set a $76.00 target price on Eversource Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Guggenheim downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Finally, Scotiabank reissued a “sell” rating and issued a $63.00 target price on shares of Eversource Energy in a report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $74.17.

ES stock traded down $0.10 during midday trading on Friday, reaching $75.66. 1,683,683 shares of the company were exchanged, compared to its average volume of 1,724,609. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.50 and a quick ratio of 0.44. The stock’s 50-day simple moving average is $75.26. Eversource Energy has a one year low of $57.49 and a one year high of $77.87. The firm has a market capitalization of $23.84 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 3.91 and a beta of 0.26.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. Eversource Energy had a net margin of 12.50% and a return on equity of 9.43%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. Eversource Energy’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Eversource Energy will post 3.46 EPS for the current year.

In related news, EVP Leon J. Olivier sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $72.95, for a total transaction of $510,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cox Capital Mgt LLC boosted its stake in shares of Eversource Energy by 2.5% in the second quarter. Cox Capital Mgt LLC now owns 9,864 shares of the utilities provider’s stock worth $747,000 after acquiring an additional 242 shares during the period. Neville Rodie & Shaw Inc. raised its holdings in shares of Eversource Energy by 1.0% in the second quarter. Neville Rodie & Shaw Inc. now owns 61,736 shares of the utilities provider’s stock worth $4,677,000 after buying an additional 632 shares during the period. WealthPLAN Partners LLC raised its holdings in shares of Eversource Energy by 5.1% in the first quarter. WealthPLAN Partners LLC now owns 7,686 shares of the utilities provider’s stock worth $558,000 after buying an additional 370 shares during the period. Laurel Wealth Advisors Inc. purchased a new stake in shares of Eversource Energy in the first quarter worth approximately $204,000. Finally, Weiss Asset Management LP purchased a new stake in shares of Eversource Energy in the first quarter worth approximately $209,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.

Featured Story: How can you know how many shares are floating?

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.