Eversource Energy (NYSE:ES) Shares Up 1.9% – Here’s Why

Eversource Energy (NYSE:ES) shares rose 1.9% during trading on Friday . The stock traded as high as $61.65 and last traded at $61.47. Approximately 209,804 shares were traded during mid-day 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 subject of several research analyst reports. 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. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Barclays dropped their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 21st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.40.

Eversource Energy Trading Up 2.1 %

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 market capitalization of $22.60 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The business has a fifty day moving average price of $60.21 and a 200 day moving average price of $61.67.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 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%. On average, analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 4.89%. Eversource Energy’s dividend payout ratio is presently 130.30%.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $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. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC grew its holdings in shares of Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 350 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Eversource Energy by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock valued at $837,000 after buying an additional 232 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Eversource Energy by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 166 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Eversource Energy by 37.6% in the 3rd quarter. Private Trust Co. NA now owns 3,073 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 840 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Eversource Energy by 5.2% in the 3rd quarter. Bank of Montreal Can now owns 625,162 shares of the utilities provider’s stock valued at $42,211,000 after purchasing an additional 30,903 shares during the last quarter. 79.99% of the stock is currently 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.