Eversource Energy (NYSE:ES) Upgraded by Janney Montgomery Scott to “Buy” Rating

Janney Montgomery Scott upgraded shares of Eversource Energy (NYSE:ES) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $79.00 price target on the utilities provider’s stock.

ES has been the subject of several other reports. Mizuho restated a “neutral” rating and set a $68.00 price objective (down from $81.00) on shares of Eversource Energy in a research report on Thursday, November 20th. BMO Capital Markets cut their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Scotiabank reduced their price objective on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Thursday, November 20th. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $73.00 to $85.00 in a research note on Tuesday, October 21st. Finally, UBS Group downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $70.55.

Eversource Energy Trading Up 1.8%

NYSE:ES opened at $65.69 on Monday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. The stock has a fifty day simple moving average of $71.19 and a 200-day simple moving average of $66.93. The company has a market capitalization of $24.65 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.83 and a beta of 0.69.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.13 EPS. On average, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Insider Buying and Selling at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. The trade was a 11.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new stake in Eversource Energy during the second quarter worth about $26,000. Root Financial Partners LLC acquired a new stake in Eversource Energy during the 3rd quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Eversource Energy in the third quarter valued at approximately $27,000. Trust Co. of Toledo NA OH purchased a new position in Eversource Energy in the second quarter valued at approximately $28,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Eversource Energy during the second quarter valued at approximately $31,000. 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.