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

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

Several other analysts also recently commented on ES. Jefferies Financial Group reduced their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. BMO Capital Markets upped their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. Scotiabank lowered their target price 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. Finally, Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.78.

Eversource Energy Trading Down 0.1 %

NYSE ES opened at $59.26 on Tuesday. The firm’s fifty day moving average price is $59.31 and its 200 day moving average price is $60.01. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the company posted $1.49 earnings per share. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is 129.74%.

Insider Activity at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the firm’s 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 completion of the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jay S. Buth sold 980 shares of Eversource Energy 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 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 disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eversource Energy

Hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC lifted its position in shares of Eversource Energy by 10.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 176 shares in the last quarter. Sterling Investment Counsel LLC raised its stake in Eversource Energy by 4.9% in the 1st quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 190 shares during the last quarter. UMB Bank n.a. lifted its holdings in Eversource Energy by 38.4% in the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 216 shares during the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Eversource Energy by 1.2% during the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider’s stock worth $1,129,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.