Eversource Energy (NYSE:ES) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Eversource Energy (NYSE:ES) from a hold rating to a sell rating in a research report released on Friday.

Several other analysts have also weighed in on the company. Morgan Stanley upped their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the company from $66.00 to $56.00 in a report on Thursday. Jefferies Financial Group began coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. Finally, Barclays raised their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average target price of $68.38.

Eversource Energy Price Performance

Shares of NYSE ES opened at $59.53 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a one year low of $52.09 and a one year high of $69.01. The company’s fifty day moving average is $63.17 and its two-hundred day moving average is $63.07. The firm has a market capitalization of $21.81 billion, a P/E ratio of -37.91, a PEG ratio of 2.40 and a beta of 0.60.

Eversource Energy (NYSE:ES) last issued its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping 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 period in the prior year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is currently -182.17%.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Eversource Energy in the third quarter worth $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy in the third quarter worth about $32,000. UMB Bank n.a. raised its holdings in shares of 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 period. Larson Financial Group LLC grew its position in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Eversource Energy in the third quarter valued at $48,000. Hedge funds and other institutional investors 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.