Eversource Energy (NYSE:ES) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Eversource Energy (NYSE:ES) from a sell rating to a hold rating in a report released on Wednesday morning.

A number of other analysts also recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company raised their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho boosted their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Bank of America increased their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Trading Up 1.5 %

NYSE:ES opened at $65.49 on Wednesday. The company has a 50-day moving average price of $66.51 and a 200-day moving average price of $62.66. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of -242.56, a P/E/G ratio of 2.56 and a beta of 0.61. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. Equities analysts predict that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.37%. Eversource Energy’s payout ratio is -1,059.26%.

Insider Activity

In related news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Lynx Investment Advisory bought a new position in Eversource Energy in the 2nd quarter worth approximately $25,000. UMB Bank n.a. boosted its position in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 198 shares during the last quarter. Manchester Capital Management LLC boosted its position in shares of Eversource Energy by 83.6% during the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 276 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Eversource Energy by 4,187.5% during the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 670 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in Eversource Energy in the 3rd quarter valued at $48,000. 79.99% of the stock is currently owned by institutional investors.

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.