Eversource Energy (NYSE:ES) Raised to “Hold” at StockNews.com

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

A number of other research analysts also recently weighed in on ES. UBS Group upgraded shares of Eversource Energy from a neutral rating to a buy rating and upped their price objective for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a buy rating and a $73.00 price target for the company. Bank of America upgraded shares of Eversource Energy from an underperform rating to a neutral rating and set a $61.00 price target for the company in a research report on Tuesday, June 25th. Scotiabank reduced their price target on shares of Eversource Energy from $61.00 to $57.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. Finally, BMO Capital Markets upped their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a market perform rating in a research report on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $65.86.

Eversource Energy Trading Down 0.5 %

Shares of Eversource Energy stock opened at $61.10 on Friday. The firm has a 50-day simple moving average of $58.76 and a two-hundred day simple moving average of $58.35. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $74.81. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data 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 business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company’s revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Equities research analysts forecast that Eversource Energy will post 4.55 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 16th were paid a dividend of $0.715 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 4.68%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Activity at Eversource Energy

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

Institutional Trading of Eversource Energy

Several hedge funds have recently made changes to their positions in ES. Heritage Wealth Advisors purchased a new position in shares of Eversource Energy during the 4th quarter worth approximately $25,000. Lynx Investment Advisory purchased a new position in shares of Eversource Energy during the 2nd quarter worth approximately $25,000. Exchange Traded Concepts LLC purchased a new position in shares of Eversource Energy during the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in shares of Eversource Energy during the 1st quarter worth approximately $27,000. Finally, Bfsg LLC purchased a new position in shares of Eversource Energy during the 4th quarter worth approximately $31,000. 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.