Eversource Energy (NYSE:ES) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a research note released on Friday morning.

A number of other research analysts also recently issued reports on the company. Scotiabank cut their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group dropped their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Barclays dropped their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average target price of $67.45.

Eversource Energy Trading Down 1.0 %

Shares of NYSE:ES opened at $60.98 on Friday. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. The business’s fifty day simple moving average is $59.94 and its 200-day simple moving average is $61.89. The company has a market capitalization of $22.38 billion, a PE ratio of 26.40, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.94%. The ex-dividend date is Tuesday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is presently 130.30%.

Insider Buying and Selling at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently modified their holdings of ES. Mizuho Bank Ltd. acquired a new position in Eversource Energy in the 4th quarter worth about $26,000. Kestra Investment Management LLC acquired a new position in Eversource Energy in the 4th quarter worth about $29,000. Assetmark Inc. raised its holdings in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares during the period. Brooklyn Investment Group acquired a new position in Eversource Energy in the 3rd quarter worth about $31,000. Finally, Pinney & Scofield Inc. acquired a new position in Eversource Energy in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.