Eversource Energy (NYSE:ES) Raised to “Hold” at StockNews.com

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

Other equities analysts have also issued research reports about the stock. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. 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 report on Thursday, February 13th. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Scotiabank lowered their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Finally, Barclays lowered their price objective on 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $67.40.

Eversource Energy Stock Performance

NYSE:ES opened at $61.13 on Friday. The firm has a 50-day moving average price of $60.28 and a two-hundred day moving average price of $61.58. The company has a market capitalization of $22.44 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. 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 posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 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, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 4.92%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is currently 130.30%.

Insider Buying and Selling

In other Eversource Energy news, 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 $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mizuho Bank Ltd. acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in Eversource Energy in the third quarter valued at about $31,000. Kestra Investment Management LLC bought a new stake in Eversource Energy during the 4th quarter worth approximately $29,000. Assetmark Inc. grew its holdings in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

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.