StockNews.com Upgrades Eversource Energy (NYSE:ES) to Hold

StockNews.com upgraded shares of Eversource Energy (NYSE:ES) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research firms have also weighed in on ES. Jefferies Financial Group decreased their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Scotiabank reduced their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $67.40.

Eversource Energy Stock Performance

NYSE:ES opened at $62.19 on Friday. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average of $60.36 and a two-hundred day moving average of $61.50. The stock has a market capitalization of $22.83 billion, a PE ratio of 26.92, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were issued a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 4.84%. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Insiders Place Their Bets

In related news, VP Jay S. Buth sold 980 shares of the company’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 completion of the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at approximately $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 company insiders.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Eversource Energy by 1.9% during the third quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock worth $837,000 after buying an additional 232 shares during the period. FMR LLC grew its holdings in shares of Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after buying an additional 185,381 shares during the last quarter. Brooklyn Investment Group acquired a new position in Eversource Energy in the 3rd quarter valued at about $31,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Eversource Energy during the 3rd quarter valued at approximately $368,000. Hedge funds and other institutional investors 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.