Eversource Energy (NYSE:ES) Cut to Sector Underperform at Scotiabank

Scotiabank downgraded shares of Eversource Energy (NYSE:ES) from a sector perform rating to a sector underperform rating in a research note released on Thursday, Marketbeat reports. The brokerage currently has $56.00 price target on the utilities provider’s stock, down from their prior price target of $66.00.

A number of other equities analysts also recently commented on the stock. Bank of America increased their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Mizuho raised their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group began coverage on Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective on the stock. Morgan Stanley raised their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $68.38.

Eversource Energy Trading Down 0.5 %

ES opened at $59.52 on Thursday. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The firm has a market cap of $21.81 billion, a PE ratio of -37.91, a price-to-earnings-growth ratio of 2.40 and a beta of 0.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The firm’s fifty day moving average is $63.17 and its two-hundred day moving average is $63.12.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Eversource Energy’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. Equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be given a dividend of $0.715 per share. The ex-dividend date is Wednesday, December 18th. This represents a $2.86 annualized dividend and a dividend yield of 4.81%. Eversource Energy’s dividend payout ratio is -182.17%.

Institutional Trading of Eversource Energy

Several large investors have recently bought and sold shares of the business. Bensler LLC bought a new position in shares of Eversource Energy in the 2nd quarter valued at $316,000. Landscape Capital Management L.L.C. increased its holdings in Eversource Energy by 46.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after purchasing an additional 10,093 shares in the last quarter. Soltis Investment Advisors LLC bought a new position in Eversource Energy in the third quarter valued at about $3,616,000. Toronto Dominion Bank boosted its stake in shares of Eversource Energy by 23.2% during the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock valued at $7,636,000 after purchasing an additional 25,377 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares during 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.