Eversource Energy (NYSE:ES) Upgraded to “Hold” at StockNews.com

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

Other analysts also recently issued reports about the company. Bank of America lifted their price target on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays upped their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Morgan Stanley raised their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Scotiabank upped their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets reduced their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.46.

Eversource Energy Stock Performance

Shares of ES opened at $61.85 on Tuesday. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The stock has a market capitalization of $22.66 billion, a P/E ratio of -39.39, a P/E/G ratio of 2.43 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The company’s fifty day moving average is $65.24 and its two-hundred day moving average is $62.84.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. On average, sell-side analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.62%. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Institutional Trading of Eversource Energy

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new stake in Eversource Energy in the 3rd quarter worth approximately $808,783,000. ClearBridge Investments Ltd acquired a new position in Eversource Energy in the first quarter valued at $156,093,000. Zimmer Partners LP lifted its position in Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after buying an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after buying an additional 1,524,341 shares during the period. Finally, M&G Plc acquired a new position in shares of Eversource Energy during the 1st quarter valued at about $83,539,000. 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.