Eversource Energy (NYSE:ES) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Several other research firms also recently weighed in on ES. Scotiabank dropped their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Jefferies Financial Group cut their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Barclays lowered their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Finally, Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.00.

Eversource Energy Stock Performance

Shares of ES opened at $62.50 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The firm has a market cap of $22.90 billion, a PE ratio of -39.81, a P/E/G ratio of 2.25 and a beta of 0.62. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The stock has a fifty day moving average price of $57.89 and a 200-day moving average price of $62.68.

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

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.82%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

Institutional Investors Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ES. Exchange Traded Concepts LLC acquired a new stake in Eversource Energy during the third quarter valued at $114,000. Creative Planning boosted its stake in shares of Eversource Energy by 6.7% during the 3rd quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock worth $5,863,000 after acquiring an additional 5,417 shares in the last quarter. Swedbank AB grew its position in shares of Eversource Energy by 2.2% during the 3rd quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock valued at $35,684,000 after acquiring an additional 11,111 shares during the period. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Eversource Energy during the 3rd quarter valued at about $226,000. Finally, ZWJ Investment Counsel Inc. increased its stake in shares of Eversource Energy by 24.0% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 260,600 shares of the utilities provider’s stock valued at $17,734,000 after purchasing an additional 50,483 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

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.