Eversource Energy (NYSE:ES) Rating Lowered to Sector Underperform at Scotiabank

Eversource Energy (NYSE:ES) was downgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector underperform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $56.00 price objective on the utilities provider’s stock, down from their previous price objective of $66.00. Scotiabank’s price objective suggests a potential downside of 5.92% from the stock’s current price.

A number of other equities analysts also recently weighed in on ES. Morgan Stanley upped their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Barclays raised their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Mizuho increased their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Eversource Energy in a research note on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 target price for the company. Three investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Trading Down 0.4 %

Shares of NYSE ES opened at $59.53 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a one year low of $52.09 and a one year high of $69.01. The business has a 50-day moving average price of $63.17 and a two-hundred day moving average price of $63.07. The firm has a market capitalization of $21.81 billion, a PE ratio of -37.91, a PEG ratio of 2.40 and a beta of 0.60.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ES. Brooklyn Investment Group acquired a new position in shares of Eversource Energy during the third quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new position in Eversource Energy during the third quarter worth $32,000. 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 last quarter. Larson Financial Group LLC boosted its holdings in Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in Eversource Energy in the 3rd quarter worth $48,000. Institutional investors and hedge funds 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.