In a report released today, Stephen Byrd from Morgan Stanley maintained a Sell rating on Eversource Energy (ES), with a price target of $86.00. The company’s shares closed last Tuesday at $92.10.
According to TipRanks.com, Byrd is a 4-star analyst with an average return of 4.8% and a 56.5% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Public Service Enterprise, and American Electric Power.
The word on The Street in general, suggests a Hold analyst consensus rating for Eversource Energy with a $88.60 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 $1.95 billion and net profit of $252 million. In comparison, last year the company earned revenue of $1.88 billion and had a net profit of $31.45 million.
Based on the recent corporate insider activity of 46 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.
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NSTAR Electric Co. engages in the generation and supply of electricity. It provides distribution and transmission services to residential, commercial, and industrial customers in parts of eastern and western Massachusetts; and also owns solar power facilities. The company was founded in 1886 and is headquartered in Boston, MA.
