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 report released on Tuesday morning.

Other analysts have also issued research reports about the stock. BMO Capital Markets lowered their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Bank of America boosted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Scotiabank boosted their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $70.46.

Eversource Energy Stock Performance

Shares of ES stock opened at $60.57 on Tuesday. 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 has a 52 week low of $52.09 and a 52 week high of $69.01. The firm’s 50-day simple moving average is $65.77 and its two-hundred day simple moving average is $62.85.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.72%. Eversource Energy’s payout ratio is -182.17%.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Eversource Energy by 14.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 169 shares during the last quarter. Addison Advisors LLC lifted its holdings in shares of Eversource Energy by 27.4% in the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 185 shares during the last quarter. Bar Harbor Wealth Management raised its holdings in Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after buying an additional 190 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after buying an additional 192 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

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.