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

Eversource Energy (NYSE:ES) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

ES has been the topic of a number of other reports. Jefferies Financial Group cut their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Scotiabank reduced their price target 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. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Wells Fargo & Company dropped their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Barclays decreased their price target on 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.40.

Eversource Energy Trading Up 1.4 %

Eversource Energy stock opened at $61.13 on Friday. The firm has a 50-day moving average price of $60.28 and a two-hundred day moving average price of $61.53. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The firm has a market capitalization of $22.44 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.35 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Transactions at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction 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 in the company, 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. 0.41% of the stock is owned by insiders.

Institutional Trading of Eversource Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP purchased a new stake in Eversource Energy in the 3rd quarter worth about $808,783,000. Norges Bank acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $188,838,000. Amundi lifted its position in shares of Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock worth $367,691,000 after purchasing an additional 1,579,818 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 worth $2,561,936,000 after purchasing an additional 1,387,072 shares during the period. Finally, Magellan Asset Management Ltd grew its position in Eversource Energy by 15.9% during the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider’s stock valued at $371,829,000 after purchasing an additional 890,514 shares in the last quarter. 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.