Eversource Energy (NYSE:ES) Downgraded to Sector Underperform Rating by Scotiabank

Scotiabank downgraded shares of Eversource Energy (NYSE:ES) from a sector perform rating to a sector underperform rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. They currently have $56.00 target price on the utilities provider’s stock, down from their prior target price of $66.00.

Other research analysts also recently issued reports about the stock. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Morgan Stanley boosted their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Jefferies Financial Group assumed coverage on Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. Barclays boosted their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Mizuho raised their target price 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.38.

Eversource Energy Stock Down 0.3 %

ES stock opened at $59.79 on Thursday. The stock has a fifty day moving average of $63.29 and a 200-day moving average of $63.06. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of -38.08, a PEG ratio of 2.40 and a beta of 0.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last issued its 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 firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $0.97 earnings per share. As a group, equities research analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s payout ratio is currently -182.17%.

Institutional Trading of Eversource Energy

Several large investors have recently bought and sold shares of ES. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the 3rd quarter worth about $31,000. Ashton Thomas Securities LLC bought a new stake in Eversource Energy during the third quarter worth about $32,000. UMB Bank n.a. grew its holdings in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC increased its stake in shares of Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Eversource Energy during the third quarter valued at approximately $48,000. 79.99% of the stock is 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.