Eversource Energy (NYSE:ES) Receives “Buy” Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Eversource Energy (NYSE:ES) in a research report sent to investors on Monday morning,Benzinga reports.

Several other research firms have also weighed in on ES. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. BMO Capital Markets decreased their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Barclays decreased 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. Jefferies Financial Group decreased their target price 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. Finally, Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Stock Down 2.9 %

Shares of NYSE ES opened at $59.68 on Monday. The company’s 50-day simple moving average is $57.94 and its 200-day simple moving average is $62.70. Eversource Energy has a 52-week low of $53.76 and a 52-week high of $69.01. The firm has a market cap of $21.87 billion, a price-to-earnings ratio of -38.01, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. Equities analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is currently -182.17%.

Hedge Funds Weigh In On Eversource Energy

Large investors have recently made changes to their positions in the stock. Verity & Verity LLC purchased a new stake in Eversource Energy during the 4th quarter worth approximately $744,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Eversource Energy by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after buying an additional 9,981 shares during the period. Nordea Investment Management AB increased its stake in Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after buying an additional 510,582 shares during the period. Landscape Capital Management L.L.C. increased its stake in Eversource Energy by 46.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after buying an additional 10,093 shares during the period. Finally, Everett Harris & Co. CA increased its stake in Eversource Energy by 125.2% during the 4th quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after buying an additional 4,500 shares during the period. 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.