Eversource Energy (NYSE:ES) Upgraded to Hold at StockNews.com

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

Other equities analysts have also issued research reports about the company. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Barclays dropped their price objective 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. Jefferies Financial Group dropped 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. Scotiabank dropped their price objective on 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. Finally, Wells Fargo & Company dropped their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $67.45.

Eversource Energy Stock Performance

NYSE:ES opened at $63.41 on Friday. The stock has a 50-day simple moving average of $58.19 and a two-hundred day simple moving average of $62.54. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $23.26 billion, a PE ratio of 27.45, a P/E/G ratio of 2.33 and a beta of 0.62.

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

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.75%. Eversource Energy’s dividend payout ratio is 123.81%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ES. Mizuho Bank Ltd. purchased a new stake in shares of Eversource Energy in the fourth quarter worth approximately $26,000. Kestra Investment Management LLC purchased a new stake in shares of Eversource Energy in the fourth quarter worth approximately $29,000. Assetmark Inc. raised its holdings in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the third quarter worth approximately $31,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy in the third quarter worth approximately $32,000. 79.99% of the stock is currently 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.