In a report released today, David Arcaro from Morgan Stanley maintained a Hold rating on Eversource Energy (ES – Research Report), with a price target of $94.00. The company’s shares opened today at $87.64.
Arcaro covers the Utilities sector, focusing on stocks such as Consolidated Edison, Eversource Energy, and NextEra Energy. According to TipRanks, Arcaro has an average return of -4.9% and a 38.30% success rate on recommended stocks.
The word on The Street in general, suggests a Hold analyst consensus rating for Eversource Energy with a $93.56 average price target.
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Based on Eversource Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.57 billion and a net profit of $291.86 million. In comparison, last year the company earned a revenue of $2.12 billion and had a net profit of $264.52 million
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ES in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Massachusetts-based Eversource Energy is an electric services company. The company is engaged in the transmission and distribution of electricity, as well as the distribution of natural gas. It also operates regulated water utilities. It operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution.
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