Eversource Energy (NYSE:ES) Cut to Sell at StockNews.com

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

Other research analysts have also issued research reports about the stock. Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their price objective for the company from $66.00 to $56.00 in a report on Thursday. Barclays raised their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group started coverage on Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $68.38.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $59.52 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $21.81 billion, a P/E ratio of -37.91, a P/E/G ratio of 2.40 and a beta of 0.60. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The stock has a 50 day moving average of $63.17 and a 200-day moving average of $63.16.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, equities research analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.715 per share. The ex-dividend date is Wednesday, December 18th. This represents a $2.86 annualized dividend and a dividend yield of 4.81%. Eversource Energy’s payout ratio is -182.17%.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently made changes to their positions in ES. Brown Brothers Harriman & Co. increased its stake in Eversource Energy by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock worth $418,000 after buying an additional 166 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Eversource Energy by 14.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 169 shares during the period. Addison Advisors LLC grew its position in shares of Eversource Energy by 27.4% during the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 185 shares in the last quarter. UMB Bank n.a. raised its stake in Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Eversource Energy by 1.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,368,000 after purchasing an additional 200 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.