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 report published on Saturday morning.

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

Eversource Energy Stock Performance

Shares of ES stock opened at $63.01 on Friday. The company has a market capitalization of $23.11 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth 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 has a one year low of $54.75 and a one year high of $69.01. The company’s 50-day moving average is $58.91 and its 200 day moving average is $62.41.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 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 4.78%. 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 at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the business’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 value of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after purchasing an additional 1,387,072 shares in the last quarter. State Street Corp grew its holdings in Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after buying an additional 430,587 shares in the last quarter. Wellington Management Group LLP increased its stake in Eversource Energy by 38.6% in the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock worth $945,893,000 after acquiring an additional 4,585,232 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Eversource Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock worth $570,500,000 after acquiring an additional 226,972 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Eversource Energy by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider’s stock valued at $547,550,000 after acquiring an additional 517,042 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.