Eversource Energy (NYSE:ES) Upgraded 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 Thursday morning.

Several other brokerages have also recently issued reports on ES. Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Barclays reduced their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Scotiabank dropped their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company cut their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.45.

Eversource Energy Stock Up 1.1 %

Shares of NYSE ES opened at $60.10 on Thursday. 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 business’s 50 day moving average is $59.34 and its two-hundred day moving average is $62.12. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The firm has a market cap of $22.06 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Research analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is currently 130.30%.

Insider Activity

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

A number of large investors have recently made changes to their positions in ES. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC purchased a new stake in Eversource Energy in the 4th quarter valued at $29,000. Assetmark Inc. boosted its stake in Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares during the period. Brooklyn Investment Group purchased a new position in Eversource Energy during the 3rd quarter worth $31,000. Finally, Ashton Thomas Securities LLC acquired a new position in Eversource Energy in the third quarter valued at $32,000. 79.99% of the stock is owned by institutional investors and hedge funds.

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.