On August 17, 2023, analysts at StockNews.com released a research note providing coverage on Eversource Energy (NYSE:ES) and assigning a “sell” rating to the company’s stock.
Shares of Eversource Energy opened at $64.42 on Thursday with a market capitalization of $22.49 billion. The company has a price-to-earnings ratio of 19.12, a PEG ratio of 2.67, and a beta of 0.47. Eversource Energy’s stock has seen a 50-day moving average of $70.49 and a 200-day moving average of $74.46. It also has a debt-to-equity ratio of 1.40, current ratio of 0.64, and quick ratio of 0.57. The one year low for the stock stands at $64.19 while the one year high is $94.41.
Eversource Energy is a public utility holding company primarily engaged in the energy delivery business. It operates through four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments.
The company’s latest quarterly earnings results were announced on July 31st when it reported $1.00 earnings per share (EPS) for the quarter, surpassing the consensus estimate by $0.09 with $0.91 per share earnings figure achieved compared to estimates. Eversource Energy demonstrated a return on equity (ROE) of 9.78% and net margin of 9.28%. Its revenue for the quarter reached $2.63 billion as opposed to analyst forecasts that predicted revenues to be around $2..94 billion.. In comparison to the previous year’s figures, Eversource Energy witnessed a growth in revenue by undergoing an increase by . During the corresponding period last year, EPS stood at $0..86 earnings per share. Consequently, based on the company’s performance, equities research analysts predict that Eversource Energy will report 4.36 EPS for the entirety of the current year.
In conclusion, analysts at StockNews.com have initiated coverage on Eversource Energy and assigned a “sell” rating to its stock. The company operates in various energy-related segments including electric distribution, transmission, natural gas distribution, and water distribution. With its recent quarterly earnings reporting exceeding analyst expectations and an anticipated positive EPS for the current year, investors may find it valuable to conduct further analysis before making any investment decisions regarding Eversource Energy’s stock.
Updated on: 02/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
9:00 PM (UTC)
Date:01 December, 2023
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Eversource Energy: Assessing the Mixed Opinions and Outlook
August 17, 2023 – In recent months, there has been considerable discourse among equities analysts about the performance and outlook of Eversource Energy. Numerous experts have provided their expert opinions on the stock, resulting in an array of viewpoints and price objectives.
One such analysis came from Mizuho, who dropped their price objective for Eversource Energy from $79.00 to $73.00 in a report released on July 28th. This revision suggests that Mizuho has a less optimistic view of the company’s prospects compared to their previous assessment.
Similarly, Guggenheim lowered their target price on Eversource Energy from $91.00 to $86.00 in a research report published on July 7th. This adjustment indicates that Guggenheim is also adopting a more cautious stance towards the stock.
Morgan Stanley, on the other hand, reaffirmed an “equal weight” rating and set a target price of $81.00 for shares of Eversource Energy in a research report released on July 21st. This rating implies that Morgan Stanley believes the stock’s performance will be in line with industry averages.
In contrast to these revised outlooks, Scotiabank upgraded its rating for Eversource Energy from “sector perform” to “sector outperform” and set a target price of $91.00 on June 15th. This upgrade suggests that Scotiabank holds an optimistic view of the company’s future performance.
Finally, UBS Group lowered their target price on shares of Eversource Energy from $81.00 to $75.00 in a report issued on May 26th, further emphasizing the mixed sentiment among analysts regarding the stock.
Overall, one investment analyst has rated Eversource Energy as a sell, while six have issued hold ratings and four have assigned buy ratings to the stock. Based on data from Bloomberg, the consensus rating for Eversource Energy is “Hold,” with an average price target of $82.73.
Beyond the realm of equities analysts, institutional investors have also recently made adjustments to their holdings in Eversource Energy. For example, Vestor Capital LLC significantly increased its position in the company by 6,226.8% during the second quarter, now owning 48,400 shares valued at approximately $3,433,000. Similarly, Resources Management Corp CT ADV augmented its position by 1,420.6% during the same period, holding 40,979 shares worth around $2,906,000.
PCA Investment Advisory Services Inc., as a new investor in Eversource Energy, acquired a stake valued at $61,000 during the second quarter. Moreover, National Pension Service raised its stake by 5.4% to 436,249 shares valued at approximately $30,415,000. Additionally, Alliancebernstein L.P. increased its stake by 18.9% during the second quarter and now holds 522,258 shares valued at approximately $37,039,000.
These modifications within institutional investors’ portfolios indicate a range of sentiments toward Eversource Energy among industry professionals.
In conclusion, there exists a high degree of perplexity and mixed opinions surrounding Eversource Energy’s stock value and future prospects. The diverse assessments from equities analysts and institutional investors highlight the challenges posed by forecasting the performance of such companies accurately. It is essential for potential investors to consider this contrasting information and conduct thorough research before making any investment decisions related to Eversource Energy.’