Eversource Energy (NYSE:ES) Cut to Sell at StockNews.com

StockNews.com cut shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a research note released on Saturday.

A number of other research firms have also recently weighed in on ES. BMO Capital Markets boosted their price objective on shares of Eversource Energy from $65.00 to $66.00 and gave the company a market perform rating in a research report on Friday, May 3rd. UBS Group upgraded shares of Eversource Energy from a neutral rating to a buy rating and boosted their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a buy rating and a $73.00 price objective on the stock. Scotiabank cut their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Finally, Barclays boosted their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the company an equal weight rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $66.43.

Eversource Energy Trading Up 0.7 %

Shares of ES opened at $64.94 on Friday. The company’s fifty day moving average is $59.01 and its 200 day moving average is $58.48. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $72.93. The stock has a market capitalization of $22.88 billion, a PE ratio of -55.03, a P/E/G ratio of 2.46 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. Eversource Energy’s quarterly revenue was down 12.2% on a year-over-year basis. Sell-side analysts expect that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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 $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value 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 $3,586,009.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 transaction, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Eversource Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Eversource Energy by 24.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock worth $4,232,000 after purchasing an additional 13,950 shares during the period. Banque Cantonale Vaudoise grew its stake in shares of Eversource Energy by 38.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock worth $3,394,000 after purchasing an additional 15,714 shares during the period. Great Oak Capital Partners LLC acquired a new stake in shares of Eversource Energy during the 4th quarter worth approximately $1,047,000. Cibc World Markets Corp grew its stake in shares of Eversource Energy by 133.3% during the 4th quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock worth $2,775,000 after purchasing an additional 25,688 shares during the period. Finally, Ethic Inc. grew its stake in shares of Eversource Energy by 23.1% during the 4th quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock worth $10,167,000 after purchasing an additional 30,890 shares during the period. 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.