Eversource Energy (NYSE:ES) Upgraded at Bank of America

Bank of America upgraded shares of Eversource Energy (NYSE:ES) from an underperform rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. Bank of America currently has $61.00 price objective on the utilities provider’s stock.

A number of other analysts have also recently commented on ES. StockNews.com upgraded Eversource Energy to a sell rating in a research report on Thursday, March 28th. Wells Fargo & Company raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. UBS Group upgraded shares of Eversource Energy from a neutral rating to a buy rating and upped their price target for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. Argus decreased their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating on the stock in a research report on Monday, March 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a buy rating and a $73.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $65.86.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $56.72 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $19.98 billion, a PE ratio of -48.07, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. The firm’s 50 day moving average price is $59.35 and its 200-day moving average price is $58.73. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $74.81.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm earned $1.41 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Equities research analysts expect that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 16th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend was Wednesday, May 15th. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. 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 added to or reduced their stakes in the company. Banque Cantonale Vaudoise boosted its stake in shares of Eversource Energy by 38.3% during the first quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock valued at $3,394,000 after purchasing an additional 15,714 shares during the period. Great Oak Capital Partners LLC purchased a new stake in Eversource Energy in the 4th quarter valued at about $1,047,000. Cibc World Markets Corp grew its stake in Eversource Energy by 133.3% in the 4th quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock worth $2,775,000 after acquiring an additional 25,688 shares in the last quarter. Ethic Inc. increased its position in shares of Eversource Energy by 23.1% during the fourth quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock worth $10,167,000 after acquiring an additional 30,890 shares during the period. Finally, AGF Management Ltd. raised its stake in shares of Eversource Energy by 53.9% during the fourth quarter. AGF Management Ltd. now owns 38,510 shares of the utilities provider’s stock valued at $2,377,000 after acquiring an additional 13,493 shares in 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.