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

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

ES has been the subject of several other research reports. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group cut their price target 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. Wells Fargo & Company decreased their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Barclays dropped 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. Finally, Scotiabank reduced their target price 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. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.45.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $60.98 on Friday. Eversource Energy has a one year low of $54.75 and a one year high of $69.01. The company has a market capitalization of $22.38 billion, a PE ratio of 26.40, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50-day simple moving average of $59.94 and a two-hundred day simple moving average of $61.85.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’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 transaction, 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 legal filing with the SEC, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following 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 disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mizuho Bank Ltd. acquired a new position in Eversource Energy during the fourth quarter worth $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy in the fourth quarter worth approximately $29,000. Assetmark Inc. increased its position in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Brooklyn Investment Group purchased a new position in Eversource Energy in the 3rd quarter valued at $31,000. Finally, Pinney & Scofield Inc. acquired a new stake in Eversource Energy during the 4th quarter worth $33,000. 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.