Eversource Energy (NYSE:ES) Stock Rating Upgraded by 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 Friday.

Several other research analysts have also commented on the stock. Scotiabank dropped their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Barclays dropped their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.45.

Eversource Energy Trading Up 0.0 %

Shares of ES opened at $63.41 on Friday. The company’s fifty day moving average is $58.19 and its 200 day moving average is $62.50. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The stock has a market capitalization of $23.26 billion, a PE ratio of 27.45, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid 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 dividend on an annualized basis and a yield of 4.75%. Eversource Energy’s dividend payout ratio is 123.81%.

Insider Buying and Selling

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Eversource Energy

Several hedge funds have recently modified their holdings of ES. Mizuho Bank Ltd. acquired a new position in shares of Eversource Energy during the fourth quarter valued at about $26,000. Kestra Investment Management LLC purchased a new stake in Eversource Energy in the fourth quarter valued at approximately $29,000. Assetmark Inc. boosted its position in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after buying an additional 254 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Eversource Energy in the third quarter valued at approximately $31,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Eversource Energy in the third quarter valued at approximately $32,000. 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.