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

Eversource Energy (NYSE:ES) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Other analysts have also issued reports about the company. Jefferies Financial Group lowered their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Barclays lowered their target price 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. Wells Fargo & Company reduced their target price 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. Scotiabank lowered 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 report on Thursday, February 13th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.44.

Eversource Energy Trading Down 4.8 %

Shares of NYSE:ES opened at $55.52 on Friday. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The business’s 50 day moving average price is $60.68 and its 200-day moving average price is $61.22. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01.

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

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the business’s 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 sale, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederica M. Williams sold 3,092 shares of the company’s 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 in the company, 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 insiders.

Institutional Trading of Eversource Energy

Several institutional investors have recently added to or reduced their stakes in ES. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Eversource Energy by 33.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock valued at $2,306,000 after buying an additional 9,981 shares during the period. Verity & Verity LLC acquired a new position in Eversource Energy in the 4th quarter valued at about $744,000. Nordea Investment Management AB increased its stake in Eversource Energy by 41.7% during the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares during the period. Everett Harris & Co. CA lifted its position in shares of Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Soltis Investment Advisors LLC purchased a new position in shares of Eversource Energy in the third quarter valued at approximately $3,616,000. Institutional investors and hedge funds 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.