BMO Capital Markets Has Lowered Expectations for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its price objective cut by investment analysts at BMO Capital Markets from $79.00 to $77.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 5.38% from the company’s previous close.

ES has been the topic of several other reports. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Mizuho increased their price objective on shares of Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Jefferies Financial Group raised their price target on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen began coverage on Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus price target of $72.70.

Eversource Energy Price Performance

ES stock traded up $1.53 during mid-day trading on Thursday, reaching $73.07. The company’s stock had a trading volume of 2,701,725 shares, compared to its average volume of 2,479,794. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The company’s 50 day moving average is $69.81 and its two-hundred day moving average is $65.99. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The stock has a market cap of $27.12 billion, a PE ratio of 20.02, a P/E/G ratio of 2.57 and a beta of 0.69.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a return on equity of 11.19% and a net margin of 10.22%.The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Equities research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Insider Transactions at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ontario Teachers Pension Plan Board acquired a new stake in Eversource Energy during the 3rd quarter valued at approximately $892,000. Kraematon Investment Advisors Inc. bought a new stake in shares of Eversource Energy in the third quarter worth $220,000. Syon Capital LLC raised its holdings in Eversource Energy by 139.3% in the third quarter. Syon Capital LLC now owns 8,195 shares of the utilities provider’s stock valued at $583,000 after acquiring an additional 4,770 shares in the last quarter. Maridea Wealth Management LLC bought a new position in Eversource Energy during the 3rd quarter valued at $677,000. Finally, NEOS Investment Management LLC grew its holdings in Eversource Energy by 44.6% during the 3rd quarter. NEOS Investment Management LLC now owns 45,449 shares of the utilities provider’s stock worth $3,233,000 after acquiring an additional 14,023 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.