Scotiabank Cuts Eversource Energy (NYSE:ES) Price Target to $55.00

Eversource Energy (NYSE:ES) had its price objective lowered by Scotiabank from $56.00 to $55.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector underperform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential downside of 12.74% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday. Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company reduced their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.00.

Eversource Energy Trading Up 5.5 %

NYSE ES traded up $3.31 on Thursday, reaching $63.03. The company had a trading volume of 2,567,945 shares, compared to its average volume of 3,007,676. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of -40.20, a P/E/G ratio of 2.25 and a beta of 0.62. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The business has a 50 day moving average of $57.89 and a two-hundred day moving average of $62.68. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

Institutional Trading of Eversource Energy

Several hedge funds have recently made changes to their positions in ES. Exchange Traded Concepts LLC bought a new stake in Eversource Energy in the 3rd quarter valued at about $114,000. Creative Planning raised its position in shares of Eversource Energy by 6.7% in the third quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock valued at $5,863,000 after purchasing an additional 5,417 shares during the period. Swedbank AB lifted its stake in shares of Eversource Energy by 2.2% during the 3rd quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock valued at $35,684,000 after buying an additional 11,111 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Eversource Energy during the 3rd quarter valued at approximately $226,000. Finally, ZWJ Investment Counsel Inc. lifted its stake in shares of Eversource Energy by 24.0% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 260,600 shares of the utilities provider’s stock valued at $17,734,000 after buying an additional 50,483 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Company Profile

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.