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

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

ES has been the subject of several other reports. Jefferies Financial Group dropped their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Scotiabank dropped 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 report on Thursday, February 13th. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Barclays reduced their price objective on shares of 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 research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.44.

Eversource Energy Trading Down 5.6 %

ES opened at $58.48 on Friday. The company has a market cap of $21.47 billion, a P/E 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. The company’s 50 day moving average is $60.73 and its 200-day moving average is $61.31. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were issued a $0.7525 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 5.15%. Eversource Energy’s payout ratio is presently 130.30%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the business’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 transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds and other institutional investors have recently bought and sold shares of ES. Mizuho Bank Ltd. acquired a new position in Eversource Energy during the 4th quarter worth approximately $26,000. Kestra Investment Management LLC bought a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $29,000. Assetmark Inc. increased 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 valued at $29,000 after acquiring an additional 254 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in shares of Eversource Energy during the fourth quarter worth approximately $33,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares in the last quarter. 79.99% of the stock is 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.