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

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

A number of other research firms also recently issued reports on ES. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target on the stock. Scotiabank cut Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the company from $66.00 to $56.00 in a report on Thursday. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley increased their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Trading Down 0.5 %

ES opened at $59.52 on Friday. The firm’s fifty day simple moving average is $63.17 and its 200 day simple moving average is $63.12. The stock has a market capitalization of $21.81 billion, a P/E ratio of -37.91, a P/E/G ratio of 2.40 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion for 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%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, research analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the period. Wellington Management Group LLP acquired a new position in shares of Eversource Energy in the third quarter valued at about $808,783,000. Geode Capital Management LLC increased its position in Eversource Energy by 3.1% during the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after acquiring an additional 268,588 shares during the period. FMR LLC raised its stake in Eversource Energy by 2.7% in the 3rd quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after purchasing an additional 185,381 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Eversource Energy by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after purchasing an additional 216,630 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

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.