BMO Capital analyst James Thalacker maintains $Eversource Energy (ES.US)$ with a hold rating, and adjusts the target price from $70 to $74.
According to TipRanks data, the analyst has a success rate of 66.9% and a total average return of 14.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Eversource Energy (ES.US)$'s main analysts recently are as follows:
The firm is updating its model following Eversource's announcement of the completion of the South Fork Wind and Revolution Wind transaction with adjusted gross proceeds of $745M, which will be utilized for parent debt reduction. Eversource is recognized for its distinctive position within the industry, characterized by its predominantly decoupled operations across electricity, gas, and water transmission and distribution.
Eversource has completed the sale of South Fork Wind and Revolution Wind to GIP, with gross proceeds adjusted from the deals amounting to $745M. This development could lead to a reevaluation of Eversource shares, potentially narrowing the current 18% P/E discount to the group to a low double-digit discount.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
