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

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

Several other equities analysts also recently issued reports on ES. Barclays decreased their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company decreased 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, February 13th. Scotiabank decreased their price objective on shares of 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. Finally, Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.45.

Eversource Energy Stock Down 1.0 %

NYSE:ES traded down $0.62 during trading hours on Friday, hitting $60.98. The company’s stock had a trading volume of 4,539,348 shares, compared to its average volume of 2,177,493. The stock has a market capitalization of $22.38 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The stock has a fifty day moving average of $59.94 and a 200-day moving average of $61.89. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate 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 at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in shares of Eversource Energy by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 121,166 shares of the utilities provider’s stock worth $8,245,000 after purchasing an additional 3,960 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Eversource Energy by 76.4% during the 3rd quarter. Empowered Funds LLC now owns 9,389 shares of the utilities provider’s stock worth $639,000 after purchasing an additional 4,065 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Eversource Energy by 4.4% during the 3rd quarter. Natixis Advisors LLC now owns 133,174 shares of the utilities provider’s stock worth $9,062,000 after purchasing an additional 5,553 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of Eversource Energy by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 45,798 shares of the utilities provider’s stock worth $3,117,000 after purchasing an additional 331 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Eversource Energy by 6.7% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,964 shares of the utilities provider’s stock worth $8,640,000 after acquiring an additional 8,011 shares during the period. 79.99% of the stock is owned by hedge funds and other 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.