StockNews.com Downgrades Eversource Energy (NYSE:ES) to Sell

StockNews.com lowered shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a research report report published on Friday.

A number of other brokerages have also commented on ES. Mizuho raised their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group started coverage on Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective on the stock. Bank of America increased their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets decreased their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Finally, Barclays upped their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $68.38.

Eversource Energy Stock Down 0.5 %

Shares of NYSE:ES opened at $59.52 on Friday. The company has a 50-day moving average price of $63.17 and a 200 day moving average price of $63.16. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The company has a market cap of $21.81 billion, a price-to-earnings ratio of -37.91, a PEG ratio of 2.40 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Wednesday, December 18th. Eversource Energy’s payout ratio is currently -182.17%.

Institutional Investors Weigh In On Eversource Energy

Large investors have recently modified their holdings of the company. Bensler LLC purchased a new position in shares of Eversource Energy during the second quarter worth about $316,000. Landscape Capital Management L.L.C. boosted its position in shares of Eversource Energy by 46.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after purchasing an additional 10,093 shares during the period. Soltis Investment Advisors LLC purchased a new position in Eversource Energy during the 3rd quarter worth approximately $3,616,000. Toronto Dominion Bank increased its position in Eversource Energy by 23.2% during the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock worth $7,636,000 after buying an additional 25,377 shares during the period. Finally, State Street Corp lifted its stake in Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after buying an additional 430,587 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other 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.