Eversource Energy (NYSE:ES) Rating Lowered to Sell at StockNews.com

Eversource Energy (NYSE:ES) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Sunday.

Other equities research analysts have also issued reports about the stock. Barclays reduced their price objective 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. Wells Fargo & Company cut their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Scotiabank lowered their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. 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. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.44.

Eversource Energy Price Performance

Shares of NYSE ES opened at $55.52 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $20.38 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The stock’s 50-day moving average is $60.68 and its two-hundred day moving average is $61.22. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last released its 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 net margin of 6.82% and a return on equity of 10.99%. Analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds have recently modified their holdings of ES. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy in the 4th quarter worth $26,000. Kestra Investment Management LLC acquired a new position in Eversource Energy during the 4th quarter worth approximately $29,000. Assetmark Inc. raised its stake in shares of Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after buying an additional 301 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.