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

Eversource Energy (NYSE:ES) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other research analysts have also recently issued research reports about the stock. Barclays decreased their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Scotiabank lowered their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group cut their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.45.

Eversource Energy Trading Down 1.0 %

Shares of ES opened at $60.98 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm has a 50-day moving average price of $59.94 and a 200 day moving average price of $61.85. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. The firm has a market capitalization of $22.38 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share 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%. Sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Eversource Energy in the third quarter valued at $808,783,000. Norges Bank purchased a new stake in shares of Eversource Energy during the fourth quarter worth approximately $188,838,000. Amundi grew its position in Eversource Energy by 32.2% in the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock valued at $367,691,000 after buying an additional 1,579,818 shares during the last quarter. Vanguard Group Inc. increased its stake in Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after buying an additional 1,387,072 shares during the period. Finally, Magellan Asset Management Ltd lifted its stake in shares of Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider’s stock worth $371,829,000 after acquiring an additional 890,514 shares during the period. 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.