Eversource Energy (NYSE:ES) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other analysts also recently commented on ES. Wells Fargo & Company reduced their price objective 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. 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. Barclays reduced their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Finally, Scotiabank reduced their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.45.

Eversource Energy Trading Up 1.0 %

NYSE:ES opened at $63.01 on Friday. The stock has a 50-day simple moving average of $58.80 and a 200-day simple moving average of $62.45. The stock has a market cap of $23.11 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.35 and a beta of 0.62. Eversource Energy has a 1 year low of $54.75 and a 1 year 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.

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

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.78%. Eversource Energy’s payout ratio is currently 130.30%.

Insider Buying and Selling

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eversource Energy

Several hedge funds have recently bought and sold shares of ES. Mizuho Bank Ltd. purchased a new position in Eversource Energy during the fourth quarter worth $26,000. Kestra Investment Management LLC purchased a new position in Eversource Energy during the fourth quarter worth $29,000. Assetmark Inc. increased its position in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the third quarter valued at $31,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy in the third quarter valued at $32,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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.