Eversource Energy (ES) Price Target Cut to $59.00

Eversource Energy (NYSE:ES) had its price target trimmed by Bank of America from $64.00 to $59.00 in a report issued on Friday morning. The brokerage currently has an underperform rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the stock. Guggenheim reaffirmed a buy rating and issued a $64.00 price target on shares of Eversource Energy in a report on Friday. Morgan Stanley raised shares of Eversource Energy from an equal weight rating to an overweight rating and set a $72.00 price target on the stock in a report on Wednesday, December 13th. UBS Group began coverage on shares of Eversource Energy in a report on Friday. They issued a neutral rating and a $66.00 price target on the stock. Janney Montgomery Scott downgraded shares of Eversource Energy from a buy rating to a neutral rating in a report on Friday. Finally, Citigroup downgraded shares of Eversource Energy from a neutral rating to a sell rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $63.63.

Shares of Eversource Energy (NYSE ES) opened at $58.33 on Friday. Eversource Energy has a fifty-two week low of $55.20 and a fifty-two week high of $66.15. The stock has a market cap of $18,480.00, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.98 and a beta of 0.27. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.

In other news, COO Werner J. Schweiger sold 10,098 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Several large investors have recently bought and sold shares of ES. Advisory Services Network LLC raised its position in shares of Eversource Energy by 1.7% in the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after buying an additional 32 shares during the last quarter. Calton & Associates Inc. acquired a new position in shares of Eversource Energy in the fourth quarter valued at approximately $119,000. Risk Paradigm Group LLC raised its position in shares of Eversource Energy by 111.7% in the third quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock valued at $128,000 after buying an additional 1,117 shares during the last quarter. Resources Investment Advisors Inc. raised its position in shares of Eversource Energy by 131.7% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,085 shares of the utilities provider’s stock valued at $132,000 after buying an additional 1,185 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Eversource Energy by 80.6% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 2,102 shares of the utilities provider’s stock valued at $133,000 after buying an additional 938 shares during the last quarter. 71.76% of the stock is owned by institutional investors and hedge funds.

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About Eversource Energy

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)

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