Jefferies Financial Group Initiates Coverage on Eversource Energy (NYSE:ES)

Jefferies Financial Group began coverage on shares of Eversource Energy (NYSE:ES) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set an “underperform” rating and a $52.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective suggests a potential downside of 18.33% from the stock’s previous close.

ES has been the topic of a number of other reports. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Scotiabank increased their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Mizuho raised their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Barclays lifted their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $69.15.

Eversource Energy Price Performance

Eversource Energy stock opened at $63.67 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The business’s 50 day simple moving average is $64.33 and its 200 day simple moving average is $63.03. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The company has a market cap of $23.33 billion, a price-to-earnings ratio of -40.55, a PEG ratio of 2.58 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. Sell-side analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

Institutional Trading of Eversource Energy

Institutional investors have recently added to or reduced their stakes in the business. Bensler LLC purchased a new position in shares of Eversource Energy in the second quarter worth $316,000. M&G Plc increased its position in shares of Eversource Energy by 16.8% in the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after acquiring an additional 234,361 shares during the period. Landscape Capital Management L.L.C. raised its stake in shares of Eversource Energy by 46.9% during the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after acquiring an additional 10,093 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Eversource Energy by 283.2% during the first quarter. Cetera Investment Advisers now owns 91,062 shares of the utilities provider’s stock worth $5,443,000 after purchasing an additional 67,300 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Eversource Energy by 23.2% in the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock worth $7,636,000 after purchasing an additional 25,377 shares during the last quarter. 79.99% 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 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.