Eversource Energy (NYSE:ES) Upgraded by StockNews.com to “Hold”

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

Several other analysts also recently weighed in on the stock. UBS Group upgraded shares of Eversource Energy from a neutral rating to a buy rating and lifted their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a buy rating and a $73.00 target price on the stock. Argus lowered their target price on shares of Eversource Energy from $85.00 to $68.00 and set a buy rating on the stock in a research note on Monday, March 25th. Wells Fargo & Company raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Finally, Scotiabank lowered their target price on shares of Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $65.86.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $61.10 on Friday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $74.81. The company’s fifty day moving average is $58.76 and its two-hundred day moving average is $58.35. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The firm’s revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. Equities research analysts forecast that Eversource Energy will post 4.55 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is currently -242.37%.

Insider Transactions 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 directly owns 10,272 shares of the company’s stock, valued at $603,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

Institutional investors have recently made changes to their positions in the stock. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $26,000. Lynx Investment Advisory acquired a new stake in shares of Eversource Energy during the second quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy during the first quarter worth approximately $27,000. Finally, Bfsg LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $31,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.