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

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

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets lowered their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Bank of America increased their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Jefferies Financial Group began coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target on the stock. Mizuho increased their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $66.00 to $56.00 in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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 stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of -37.91, a P/E/G ratio of 2.40 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a 50-day simple moving average of $63.17 and a 200 day simple moving average of $63.12.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS. Analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. increased its position in Eversource Energy by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 166 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Eversource Energy by 14.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 169 shares during the last quarter. Addison Advisors LLC increased its position in shares of Eversource Energy by 27.4% during the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after buying an additional 185 shares during the period. UMB Bank n.a. increased its position in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Eversource Energy by 1.0% during the third quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,368,000 after buying an additional 200 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

About Eversource Energy

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.