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

StockNews.com downgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a research note issued to investors on Friday.

Several other research firms have also recently weighed in on ES. Scotiabank cut their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group cut their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Barclays cut their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average target price of $67.45.

Eversource Energy Stock Performance

NYSE:ES opened at $60.98 on Friday. 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 has a 12-month low of $54.75 and a 12-month high of $69.01. The stock has a 50-day moving average price of $59.94 and a 200 day moving average price of $61.89. The stock has a market capitalization of $22.38 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced 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. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.94%. Eversource Energy’s payout ratio is 130.30%.

Insider Transactions at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the firm’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. This represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently modified their holdings of ES. Mizuho Bank Ltd. bought a new stake in Eversource Energy during the 4th quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Eversource Energy during the 3rd quarter valued at $31,000. Kestra Investment Management LLC bought a new stake in Eversource Energy during the 4th quarter valued at $29,000. Assetmark Inc. raised its position in Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 254 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 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.