Eversource Energy (NYSE:ES) Downgraded 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 note issued to investors on Saturday morning.

Other equities research analysts have also issued reports about the company. BMO Capital Markets raised their price target on Eversource Energy from $65.00 to $66.00 and gave the stock a market perform rating in a research note on Friday, May 3rd. Barclays boosted their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the company an equal weight rating in a research note on Monday, July 22nd. Morgan Stanley reduced their price target on shares of 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. Bank of America upgraded shares of Eversource Energy from an underperform rating to a neutral rating and set a $61.00 target price on the stock in a research note on Tuesday, June 25th. Finally, Scotiabank lowered their price target on Eversource Energy from $61.00 to $57.00 and set a sector perform rating for the company in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $66.43.

Eversource Energy Stock Up 1.4 %

NYSE ES opened at $64.50 on Friday. The stock has a 50 day moving average price of $58.93 and a 200-day moving average price of $58.42. Eversource Energy has a one year low of $52.03 and a one year high of $73.87. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

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

Eversource Energy Dividend Announcement

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

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following 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 link. In other news, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value 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 disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salem Investment Counselors Inc. boosted its stake in Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. Bar Harbor Wealth Management lifted its holdings in Eversource Energy by 4.1% in the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after acquiring an additional 190 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 192 shares during the last quarter. Presima Securities ULC raised its position in Eversource Energy by 1.5% in the fourth quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock valued at $847,000 after purchasing an additional 200 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.