Bank of America Securities Remains a Buy on Eversource Energy (ES)
In a report released on December 24, Ross Fowler from Bank of America Securities reiterated a Buy rating on Eversource Energy, with a price target of $67.16. The company’s shares closed last Wednesday at $67.16.
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According to TipRanks, Fowler is a 4-star analyst with an average return of 5.5% and a 59.62% success rate. Fowler covers the Utilities sector, focusing on stocks such as Eversource Energy, Vistra Energy, and Nisource.
Currently, the analyst consensus on Eversource Energy is a Hold with an average price target of $70.51.
Based on Eversource Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.22 billion and a net profit of $367.55 million. In comparison, last year the company earned a revenue of $3.06 billion and had a GAAP net loss of $118.06 million
Based on the recent corporate insider activity of 43 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. Last month, Gregory Butler, the EVP & GC of ES sold 5,000.00 shares for a total of $365,400.00.
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