Eversource Energy (ES) Downgraded by Zacks Investment Research to Hold

Eversource Energy (NYSE:ES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 9th.

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.”

ES has been the topic of several other research reports. Williams Capital lifted their target price on Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Credit Suisse Group boosted their price target on Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Bank of America began coverage on Eversource Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price for the company. Finally, Morgan Stanley upped their target price on Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $63.63.

Shares of Eversource Energy (NYSE ES) opened at $59.35 on Tuesday. 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 twelve month low of $54.55 and a twelve month high of $66.15. The stock has a market capitalization of $18,807.18, a PE ratio of 19.27, a price-to-earnings-growth ratio of 2.98 and a beta of 0.27.

In other news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Schroder Investment Management Group lifted its stake in Eversource Energy by 6.3% in the second quarter. Schroder Investment Management Group now owns 9,155 shares of the utilities provider’s stock valued at $556,000 after buying an additional 542 shares during the period. Eaton Vance Management lifted its stake in Eversource Energy by 46.8% in the second quarter. Eaton Vance Management now owns 106,235 shares of the utilities provider’s stock valued at $6,450,000 after buying an additional 33,845 shares during the period. Aberdeen Asset Management PLC UK lifted its stake in Eversource Energy by 22.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 103,515 shares of the utilities provider’s stock valued at $6,284,000 after buying an additional 18,791 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Eversource Energy by 63.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,265 shares during the period. Finally, Raymond James Trust N.A. acquired a new stake in shares of Eversource Energy during the second quarter worth about $201,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

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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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