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 research report sent to investors on Saturday morning.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley reduced their price objective on Eversource Energy from $70.00 to $67.00 and set an equal weight rating on the stock in a research note on Monday, June 24th. UBS Group upgraded shares of Eversource Energy from a neutral rating to a buy rating and raised their price target for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. Barclays boosted their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the company an equal weight rating in a research report on Monday, July 22nd. 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 report on Friday, May 3rd. Finally, Bank of America raised Eversource Energy from an underperform rating to a neutral rating and set a $61.00 target price for the company in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $66.43.

Eversource Energy Stock Up 1.4 %

Shares of ES stock opened at $64.50 on Friday. The firm has a fifty day moving average of $58.93 and a two-hundred day moving average of $58.42. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $73.87.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company earned $1.41 earnings per share. Eversource Energy’s quarterly revenue was down 12.2% on a year-over-year basis. On average, sell-side analysts anticipate that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.43%. The ex-dividend date was Wednesday, May 15th. Eversource Energy’s payout ratio is currently -242.37%.

Insiders Place Their Bets

In related news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the sale, the executive vice president now owns 10,272 shares in the company, valued at $603,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Eversource Energy by 24.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock valued at $4,232,000 after purchasing an additional 13,950 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of Eversource Energy by 38.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock worth $3,394,000 after purchasing an additional 15,714 shares during the last quarter. Great Oak Capital Partners LLC bought a new position in shares of Eversource Energy during the 4th quarter valued at $1,047,000. Cibc World Markets Corp increased its position in Eversource Energy by 133.3% during the fourth quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock worth $2,775,000 after buying an additional 25,688 shares during the last quarter. Finally, Ethic Inc. raised its holdings in Eversource Energy by 23.1% during the fourth quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock valued at $10,167,000 after buying an additional 30,890 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.