Eversource Energy (NYSE:ES) Given Neutral Rating at UBS Group

UBS Group reiterated their neutral rating on shares of Eversource Energy (NYSE:ES) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $62.00 price target on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets upped their price target on Eversource Energy from $63.00 to $64.00 and gave the stock a market perform rating in a research note on Thursday, February 15th. Guggenheim raised Eversource Energy from a neutral rating to a buy rating and upped their price target for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. Mizuho raised Eversource Energy from a neutral rating to a buy rating and increased their target price for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Argus cut their target price on Eversource Energy from $85.00 to $68.00 and set a buy rating on the stock in a research note on Monday, March 25th. Finally, StockNews.com raised Eversource Energy to a sell rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $65.08.

Eversource Energy Price Performance

Shares of ES stock opened at $59.77 on Tuesday. The stock has a market cap of $20.96 billion, a price-to-earnings ratio of -47.44, a PEG ratio of 3.11 and a beta of 0.58. The business’s fifty day moving average is $57.10 and its 200 day moving average is $58.11. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $81.36. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. Eversource Energy’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Research analysts expect that Eversource Energy will post 4.55 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a $0.715 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a yield of 4.79%. Eversource Energy’s dividend payout ratio is currently -226.98%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,250 shares of company stock valued at $352,014. 0.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new position in shares of Eversource Energy in the fourth quarter worth about $434,000. HighPoint Advisor Group LLC bought a new stake in Eversource Energy during the 4th quarter valued at approximately $282,000. PNC Financial Services Group Inc. raised its stake in Eversource Energy by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 441,990 shares of the utilities provider’s stock valued at $27,280,000 after purchasing an additional 3,956 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Eversource Energy by 15.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,375 shares of the utilities provider’s stock valued at $270,000 after purchasing an additional 590 shares during the period. Finally, SageView Advisory Group LLC raised its stake in Eversource Energy by 9.4% during the 4th quarter. SageView Advisory Group LLC now owns 9,293 shares of the utilities provider’s stock valued at $574,000 after purchasing an additional 801 shares during the period. Institutional investors 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.