Eversource Energy (NYSE:ES) Cut to “Sell” at StockNews.com

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

Other equities analysts have also issued research reports about the company. Jefferies Financial Group decreased 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 decreased their target price on 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. Wells Fargo & Company reduced their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Barclays reduced their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $67.45.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $60.98 on Friday. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The firm’s 50-day moving average is $59.94 and its 200 day moving average is $61.80. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $22.38 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.35 and a beta of 0.60.

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, topping 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%. Sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.94%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. 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 stock in a transaction that occurred on Friday, February 21st. The shares were 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 $1,535,318.26. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $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. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its holdings in Eversource Energy by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after buying an additional 166 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Eversource Energy by 10.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after buying an additional 176 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in shares of Eversource Energy by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 216 shares in the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Eversource Energy by 1.2% in the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider’s stock valued at $1,129,000 after purchasing an additional 230 shares in 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.