Eversource Energy (NYSE:ES) Rating Lowered to “Neutral” at UBS Group

Eversource Energy (NYSE:ES) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday,Finviz reports. They currently have a $78.00 price target on the utilities provider’s stock. UBS Group’s target price points to a potential upside of 7.00% from the stock’s previous close.

A number of other analysts also recently issued reports on ES. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Scotiabank set a $64.00 price objective on shares of Eversource Energy and gave the company a “sector underperform” rating in a research note on Wednesday. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. Mizuho increased their target price on Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Wells Fargo & Company initiated coverage on Eversource Energy in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average price target of $72.20.

Eversource Energy Stock Down 1.2%

ES stock opened at $72.90 on Thursday. The business’s 50 day moving average price is $69.49 and its two-hundred day moving average price is $65.83. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The company has a market capitalization of $27.05 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.69. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.19% and a net margin of 10.22%.The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. As a group, analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

Institutional investors have recently made changes to their positions in the company. United Asset Strategies Inc. boosted its position in Eversource Energy by 1.0% during the third quarter. United Asset Strategies Inc. now owns 13,288 shares of the utilities provider’s stock worth $945,000 after acquiring an additional 138 shares during the last quarter. Mystic Asset Management Inc. raised its holdings in shares of Eversource Energy by 0.9% during the 3rd quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock worth $1,177,000 after acquiring an additional 150 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Eversource Energy by 3.3% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock valued at $360,000 after acquiring an additional 162 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Eversource Energy by 4.7% in the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 173 shares during the period. Finally, Avidian Wealth Enterprises LLC increased its position in Eversource Energy by 2.9% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock worth $393,000 after purchasing an additional 176 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.