Eversource Energy (NYSE:ES) Trading Up 1.9% – Time to Buy?

Eversource Energy (NYSE:ES)’s stock price was up 1.9% during mid-day trading on Friday . The stock traded as high as $61.65 and last traded at $61.47. Approximately 209,804 shares traded hands during trading, a decline of 90% from the average daily volume of 2,159,030 shares. The stock had previously closed at $60.30.

Analyst Upgrades and Downgrades

ES has been the topic of several recent analyst reports. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lowered their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group cut their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Scotiabank cut their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average price target of $67.40.

Eversource Energy Stock Up 1.4 %

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a 50 day simple moving average of $60.28 and a two-hundred day simple moving average of $61.58. The company has a market capitalization of $22.44 billion, a P/E ratio of 26.46, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, equities analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 4.92%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is currently 130.30%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ES. Larson Financial Group LLC increased its position in shares of Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 350 shares during the period. Fisher Asset Management LLC grew its stake in Eversource Energy by 1.9% in the third quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock worth $837,000 after purchasing an additional 232 shares in the last quarter. FMR LLC increased its holdings in Eversource Energy by 2.7% during the 3rd quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after purchasing an additional 185,381 shares during the period. Brooklyn Investment Group bought a new stake in Eversource Energy during the 3rd quarter valued at $31,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Eversource Energy during the 3rd quarter valued at $368,000. 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.