According to Zacks, “In the past three months shares of Eversource Energy have underperformed its industry. Eversource Energy’s prospects will be hurt by the ongoing delay in the approval of Northern Pass project, dependence on third party, stringent regulation, and underperformance of its transmission and distribution system due to breakdown are concerns. Refusal by Connecticut Water will hurt its plans to expand water business through acquisition. However, Eversource’s investments in renewable energy generation, expansion of transmission and distribution systems will help it to provide reliable services to its customers. Start of the new water segment will diversify the source of its revenues. Its regulated investment plans will help boost earnings per share by 5-7% over the 2019-2023 time frame from the 2018 level.”
ES has been the topic of a number of other reports. Guggenheim restated a “buy” rating and set a $72.00 price target on shares of Eversource Energy in a research note on Monday, January 7th. Morgan Stanley increased their price objective on Eversource Energy from $69.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 12th. Williams Capital reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, March 18th. Bank of America cut Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 price objective on the stock. in a research note on Monday, February 25th. Finally, Macquarie upgraded Eversource Energy from a “neutral” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research note on Monday, March 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.90.
NYSE:ES opened at $70.40 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.50 and a current ratio of 0.56. Eversource Energy has a 52 week low of $52.76 and a 52 week high of $72.26. The firm has a market cap of $22.20 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 3.64 and a beta of 0.31.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Eversource Energy had a return on equity of 9.18% and a net margin of 12.23%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts anticipate that Eversource Energy will post 3.45 EPS for the current fiscal year.
In related news, EVP Christine M. Carmody sold 15,000 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $70.06, for a total value of $1,050,900.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory B. Butler sold 11,500 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $68.63, for a total value of $789,245.00. The disclosure for this sale can be found here. Insiders sold 111,201 shares of company stock worth $7,727,360 in the last three months. 0.37% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of ES. Vanguard Group Inc. grew its holdings in shares of Eversource Energy by 1.3% during the third quarter. Vanguard Group Inc. now owns 34,614,034 shares of the utilities provider’s stock worth $2,126,686,000 after purchasing an additional 436,242 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Eversource Energy by 1.3% during the third quarter. Vanguard Group Inc now owns 34,614,034 shares of the utilities provider’s stock worth $2,126,686,000 after purchasing an additional 436,242 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Eversource Energy by 2.4% during the fourth quarter. BlackRock Inc. now owns 28,130,030 shares of the utilities provider’s stock worth $1,829,577,000 after purchasing an additional 661,442 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Eversource Energy by 35.7% during the fourth quarter. American Century Companies Inc. now owns 4,563,601 shares of the utilities provider’s stock worth $296,817,000 after purchasing an additional 1,200,309 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Eversource Energy by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 4,180,918 shares of the utilities provider’s stock worth $271,461,000 after purchasing an additional 344,769 shares during the last quarter. 73.99% of the stock is currently owned by hedge funds and other institutional investors.
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.
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