Eversource Energy (NYSE:ES) Upgraded at StockNews.com

StockNews.com upgraded shares of Eversource Energy (NYSE:ES - Free Report) from a sell rating to a hold rating in a research note released on Friday morning.

A number of other analysts have also commented on ES. Jefferies Financial Group reduced their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research note on Tuesday, January 28th. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Scotiabank decreased their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Barclays reduced their price objective on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their target price on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $67.45.

Eversource Energy Price Performance

Shares of NYSE ES traded up $0.03 during mid-day trading on Friday, reaching $63.41. 3,830,695 shares of the company traded hands, compared to its average volume of 3,167,062. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The firm has a market cap of $23.26 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The stock has a fifty day simple moving average of $58.12 and a 200-day simple moving average of $62.55. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.99% and a net margin of 6.82%. Equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio (DPR) is presently 123.81%.

Insider Activity at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the firm's stock in a transaction 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 $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eversource Energy

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in shares of Eversource Energy during the third quarter worth $808,783,000. Norges Bank acquired a new position in Eversource Energy in the fourth quarter valued at about $188,838,000. Amundi increased its holdings in shares of Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock worth $367,691,000 after acquiring an additional 1,579,818 shares in the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 1,387,072 shares during the period. Finally, Magellan Asset Management Ltd lifted its holdings in shares of Eversource Energy by 15.9% during the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after purchasing an additional 890,514 shares in the last quarter. 79.99% of the stock is currently 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.