Eversource Energy (NYSE:ES) Downgraded to “Sell” Rating by StockNews.com

StockNews.com cut shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a report published on Sunday morning.

Several other equities research analysts have also issued reports on ES. Jefferies Financial Group lowered their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Scotiabank dropped their target price 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. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Wells Fargo & Company dropped their price objective 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. Finally, Barclays decreased their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.44.

Eversource Energy Price Performance

Shares of NYSE ES opened at $58.48 on Friday. The company has a fifty day moving average price of $60.73 and a 200 day moving average price of $61.31. The firm has a market cap of $21.47 billion, a PE ratio of 25.31, a PEG ratio of 2.35 and a beta of 0.58. 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 has a 1-year low of $54.75 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is currently 130.30%.

Insider Activity at Eversource Energy

In other news, 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 sale, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors have recently made changes to their positions in ES. HighTower Advisors LLC lifted its position in shares of Eversource Energy by 0.5% during the 3rd quarter. HighTower Advisors LLC now owns 59,170 shares of the utilities provider’s stock valued at $4,016,000 after acquiring an additional 293 shares during the period. Quantinno Capital Management LP lifted its position in Eversource Energy by 48.0% during the third quarter. Quantinno Capital Management LP now owns 32,489 shares of the utilities provider’s stock worth $2,211,000 after purchasing an additional 10,543 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Eversource Energy by 78.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 17,107 shares of the utilities provider’s stock worth $1,164,000 after buying an additional 7,513 shares in the last quarter. National Bank of Canada FI increased its holdings in Eversource Energy by 446.0% in the 3rd quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after buying an additional 612,421 shares during the period. Finally, MML Investors Services LLC raised its position in shares of Eversource Energy by 39.5% in the 3rd quarter. MML Investors Services LLC now owns 21,435 shares of the utilities provider’s stock valued at $1,459,000 after buying an additional 6,069 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

About Eversource Energy

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.