Eversource Energy (NYSE:ES) Downgraded to Sector Underperform Rating by Scotiabank

Eversource Energy (NYSE:ES) was downgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector underperform” rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $56.00 target price on the utilities provider’s stock, down from their prior target price of $66.00. Scotiabank’s price objective indicates a potential downside of 5.92% from the company’s current price.

Other equities research analysts have also issued reports about the company. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group initiated coverage on Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective for the company. Bank of America boosted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays increased their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Mizuho boosted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Stock Down 0.4 %

ES opened at $59.53 on Thursday. 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. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The firm’s fifty day moving average price is $63.17 and its two-hundred day moving average price is $63.07. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. boosted its position 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 valued at $418,000 after buying an additional 166 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Eversource Energy by 14.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 169 shares during the period. Addison Advisors LLC boosted its holdings in Eversource Energy by 27.4% in the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 185 shares during the last quarter. UMB Bank n.a. increased its position in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in Eversource Energy by 1.0% during 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 during the last quarter. 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.