Eversource Energy (NYSE:ES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, October 25th.
According to Zacks, “Shares of Eversource Energy have returned lower than the industry it belongs to in the last 12 months. Eversource Energy’s decision to withdrew its Access Northeast Pipeline plan due to regulatory uncertainty, will have an adverse impact on its growth prospects. Moreover, dependence on its subsidiaries, stringent environmental regulations, and risks related to modification in state and local legislative requirements may adversely impact its results. Eversource Energy’s systematic investments in infrastructure development projects, renewable energy generation, primarily in transmission and distribution systems will help it to provide reliable services to its customers. If the company continues to reduce operating costs at the same levels of 2016, margins are bound to get a boost in the upcoming quarters.”
Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Williams Capital lifted their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Credit Suisse Group lifted their price target on shares of Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Morgan Stanley boosted their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Finally, Bank of America Corporation assumed coverage on shares of Eversource Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $64.06.
Shares of Eversource Energy (NYSE:ES) traded down $0.61 during mid-day trading on Wednesday, hitting $64.07. 1,555,600 shares of the stock traded hands, compared to its average volume of 1,408,859. The stock has a market capitalization of $20,302.87, a P/E ratio of 20.80, a P/E/G ratio of 3.43 and a beta of 0.31. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. Eversource Energy has a 52 week low of $50.56 and a 52 week high of $65.01.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. Eversource Energy’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. equities research analysts predict that Eversource Energy will post 3.15 earnings per share for the current year.
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In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BB&T Securities LLC purchased a new stake in Eversource Energy during the 2nd quarter valued at $1,033,000. Teacher Retirement System of Texas purchased a new stake in Eversource Energy in the second quarter worth $200,000. Swiss National Bank increased its stake in Eversource Energy by 3.0% in the second quarter. Swiss National Bank now owns 1,157,857 shares of the utilities provider’s stock worth $70,293,000 after purchasing an additional 33,900 shares during the period. Toronto Dominion Bank increased its stake in Eversource Energy by 25.5% in the second quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock worth $6,516,000 after purchasing an additional 21,833 shares during the period. Finally, First PREMIER Bank increased its stake in Eversource Energy by 0.7% in the second quarter. First PREMIER Bank now owns 23,616 shares of the utilities provider’s stock worth $1,433,000 after purchasing an additional 169 shares during the period. Institutional investors own 72.43% of the company’s stock.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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