Eversource Energy (NYSE:ES) Lowered to “Hold” at Deutsche Bank AG

Deutsche Bank AG downgraded shares of Eversource Energy (NYSE:ES) from a buy rating to a hold rating in a research report report published on Monday, July 31st. The brokerage currently has $61.50 price objective on the utilities provider’s stock, up from their previous price objective of $61.00.

A number of other research firms have also issued reports on ES. BMO Capital Markets upped their target price on Eversource Energy from $57.00 to $61.00 and gave the company a market perform rating in a research note on Monday, May 15th. Zacks Investment Research raised Eversource Energy from a sell rating to a hold rating in a research note on Tuesday, April 4th. Citigroup Inc. upped their target price on Eversource Energy from $54.00 to $58.00 and gave the company a neutral rating in a research note on Tuesday, April 25th. Morgan Stanley reaffirmed an equal weight rating on shares of Eversource Energy in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reaffirmed a hold rating and issued a $59.00 target price on shares of Eversource Energy in a research note on Tuesday, June 6th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Eversource Energy currently has a consensus rating of Hold and a consensus price target of $62.95.

Shares of Eversource Energy (NYSE ES) traded up 0.96% during trading on Monday, hitting $63.06. The company’s stock had a trading volume of 1,481,023 shares. The stock has a market cap of $19.98 billion, a PE ratio of 20.41 and a beta of 0.28. Eversource Energy has a one year low of $50.56 and a one year high of $63.34. The company has a 50-day moving average price of $61.09 and a 200-day moving average price of $59.89.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Eversource Energy’s revenue was down .2% on a year-over-year basis. Equities analysts predict that Eversource Energy will post $3.15 EPS for the current fiscal year.

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In other Eversource Energy news, VP Werner J. Schweiger sold 48,544 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $61.01, for a total value of $2,961,669.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ES. BlackRock Inc. increased its stake in Eversource Energy by 2,396.3% in the first quarter. BlackRock Inc. now owns 23,980,820 shares of the utilities provider’s stock worth $1,409,592,000 after buying an additional 23,020,171 shares during the last quarter. Principal Financial Group Inc. increased its stake in Eversource Energy by 382.4% in the second quarter. Principal Financial Group Inc. now owns 2,326,749 shares of the utilities provider’s stock worth $141,257,000 after buying an additional 1,844,447 shares during the last quarter. Magellan Asset Management Ltd purchased a new stake in Eversource Energy during the first quarter worth approximately $82,000,000. Vanguard Group Inc. increased its stake in Eversource Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,273,965 shares of the utilities provider’s stock worth $1,897,064,000 after buying an additional 1,078,978 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Eversource Energy by 1,617.7% in the second quarter. Janus Henderson Group PLC now owns 766,269 shares of the utilities provider’s stock worth $46,520,000 after buying an additional 721,660 shares during the last quarter. Institutional investors own 71.31% of the company’s stock.

Eversource Energy Company Profile

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, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

Analyst Recommendations for Eversource Energy (NYSE:ES)

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