Eversource Energy (NYSE:ES) Hits New 1-Year Low - Should You Sell?

Eversource Energy (NYSE:ES - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $54.24 and last traded at $54.40, with a volume of 1893906 shares changing hands. The stock had previously closed at $55.56.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ES. Wells Fargo & Company lowered their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. StockNews.com downgraded shares of Eversource Energy from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. JPMorgan Chase & Co. restated an "underweight" rating and set a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday. Finally, Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Eversource Energy presently has a consensus rating of "Hold" and an average price target of $65.78.

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Eversource Energy Trading Up 1.0 %

The business has a 50-day simple moving average of $60.41 and a 200-day simple moving average of $60.84. The company has a market cap of $20.66 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.35%. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio is presently 130.30%.

Insider Transactions at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at $1,535,318.26. This represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds have recently modified their holdings of ES. Vanguard Group Inc. boosted its stake in shares of Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after buying an additional 1,387,072 shares during the period. Wellington Management Group LLP grew its stake in shares of Eversource Energy by 38.6% in the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after purchasing an additional 4,585,232 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Eversource Energy by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider's stock valued at $570,500,000 after purchasing an additional 226,972 shares during the period. Geode Capital Management LLC raised its stake in shares of Eversource Energy by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock worth $547,550,000 after purchasing an additional 517,042 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Eversource Energy by 4.8% during the fourth quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock worth $422,259,000 after purchasing an additional 333,529 shares during the period. 79.99% of the stock is currently owned by hedge funds and other 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.