Eversource Energy (NYSE:ES) Upgraded to “Hold” at StockNews.com

Eversource Energy (NYSE:ES) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other equities research analysts also recently weighed in on ES. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Wells Fargo & Company decreased 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 dropped their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group reduced their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.78.

Eversource Energy Stock Performance

ES opened at $57.99 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock’s 50 day moving average price is $60.39 and its two-hundred day moving average price is $60.72. The firm has a market capitalization of $21.29 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. Eversource Energy has a 12-month low of $52.28 and a 12-month 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 return on equity of 10.99% and a net margin of 6.82%. On average, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Eversource Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after buying an additional 1,387,072 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Eversource Energy by 38.6% during the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock valued at $945,893,000 after acquiring an additional 4,585,232 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Eversource Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock worth $570,500,000 after acquiring an additional 226,972 shares during the last quarter. Geode Capital Management LLC increased its holdings in Eversource Energy by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider’s stock worth $547,550,000 after purchasing an additional 517,042 shares in the last quarter. Finally, FMR LLC raised its position in Eversource Energy by 4.8% in the fourth quarter. FMR LLC now owns 7,352,593 shares of the utilities provider’s stock valued at $422,259,000 after purchasing an additional 333,529 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.