Eversource Energy (ES) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Eversource Energy (NYSE:ES) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Shares of Eversource Energy returned higher than the industry in last six months. Eversource Energy‘s systematic investments in renewable energy generation, primarily in transmission and distribution systems will help it to provide reliable services to its customers.  Margins of the company will improve if the company continues to reduce operating costs. Moreover, its regulated investment plans will help it to boost earnings per share by 5–7% over the 2017–2020 time frame from the 2016 level of $2.96. However, the company's decision to withdraw its Access Northeast Pipeline plan due to regulatory uncertainty, will have an adverse impact on its growth prospects.  Moreover, it faces challenges due to severe weather conditions.”

Other equities research analysts have also recently issued reports about the stock. Williams Capital upped their price objective on shares of Eversource Energy from $64.00 to $66.00 and gave the stock a buy rating in a report on Monday, October 23rd. Morgan Stanley upped their price objective on shares of Eversource Energy from $64.00 to $68.00 and gave the stock an equal weight rating in a report on Tuesday, October 24th. Credit Suisse Group upped their price objective on shares of Eversource Energy from $60.00 to $63.00 and gave the stock a neutral rating in a report on Monday, October 2nd. Finally, Bank of America started coverage on shares of Eversource Energy in a report on Tuesday, October 24th. They issued an underperform rating and a $62.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Eversource Energy has an average rating of Hold and an average price target of $64.95.

Eversource Energy (NYSE ES) traded down $0.17 during trading on Tuesday, hitting $61.35. 2,804,661 shares of the stock traded hands, compared to its average volume of 1,930,000. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. Eversource Energy has a fifty-two week low of $54.10 and a fifty-two week high of $66.15. The stock has a market cap of $19,440.00, a PE ratio of 19.92, a P/E/G ratio of 3.13 and a beta of 0.31.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. research analysts anticipate that Eversource Energy will post 3.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, December 15th. Eversource Energy’s dividend payout ratio is presently 61.69%.

In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its position in Eversource Energy by 1.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 32 shares during the last quarter. Risk Paradigm Group LLC lifted its position in Eversource Energy by 111.7% during the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 1,117 shares during the last quarter. Sun Life Financial INC lifted its position in Eversource Energy by 23,040.0% during the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 2,304 shares during the last quarter. WFG Advisors LP lifted its position in Eversource Energy by 127.8% during the 2nd quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Eversource Energy by 63.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 1,265 shares during the last quarter. 72.14% of the stock is owned by hedge funds and other institutional investors.

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Eversource Energy Company Profile

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.

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