Eversource Energy (NYSE:ES) Upgraded 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 Thursday.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group cut their target price 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. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Wells Fargo & Company cut their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Barclays dropped their price target 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. Finally, Scotiabank dropped their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.45.

Eversource Energy Stock Performance

NYSE:ES opened at $61.50 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a market cap of $22.57 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.35 and a beta of 0.60. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The firm’s 50 day moving average is $59.42 and its two-hundred day moving average is $62.05.

Eversource Energy (NYSE:ES) last issued its earnings results 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 net margin of 6.82% and a return on equity of 10.99%. Analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 4.89%. Eversource Energy’s payout ratio is 130.30%.

Insider Activity

In other news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Investments Inc raised its position in shares of Eversource Energy by 61.8% during the 3rd quarter. Atria Investments Inc now owns 20,913 shares of the utilities provider’s stock worth $1,423,000 after buying an additional 7,984 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Eversource Energy during the 3rd quarter worth about $238,000. Ashton Thomas Securities LLC bought a new stake in shares of Eversource Energy during the 3rd quarter worth about $32,000. Aptus Capital Advisors LLC raised its position in shares of Eversource Energy by 27.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 6,335 shares of the utilities provider’s stock worth $431,000 after buying an additional 1,357 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Eversource Energy by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 121,166 shares of the utilities provider’s stock worth $8,245,000 after buying an additional 3,960 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.