Eversource Energy (NYSE:ES) Stock Price Down 2.8% on Analyst Downgrade

Eversource Energy (NYSE:ES – Get Rating) fell 2.8% on Friday after UBS Group lowered their price target on the stock from $81.00 to $75.00. The stock traded as low as $68.84 and last traded at $68.88. 1,300,885 shares changed hands during trading, a decline of 26% from the average session volume of 1,746,416 shares. The stock had previously closed at $70.86.

Several other equities analysts have also recently weighed in on ES. Mizuho cut their price target on Eversource Energy from $87.00 to $79.00 and set a “neutral” rating for the company in a report on Monday, April 3rd. StockNews.com initiated coverage on Eversource Energy in a report on Thursday, May 18th. They set a “hold” rating for the company. Wolfe Research cut Eversource Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 21st. BMO Capital Markets lifted their target price on Eversource Energy from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Friday, April 14th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Tuesday, March 21st. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.92.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mascoma Wealth Management LLC bought a new stake in Eversource Energy during the 4th quarter valued at $25,000. Delta Asset Management LLC TN bought a new stake in Eversource Energy during the 4th quarter valued at $25,000. Lakewood Asset Management LLC bought a new stake in Eversource Energy during the 4th quarter valued at $25,000. Quarry LP raised its position in Eversource Energy by 275.0% during the 1st quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 231 shares in the last quarter. Finally, Piershale Financial Group Inc. bought a new stake in Eversource Energy during the 4th quarter valued at $26,000. 77.37% of the stock is owned by institutional investors.

Eversource Energy Trading Down 3.1 %

The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.31. The stock has a 50-day simple moving average of $76.79 and a two-hundred day simple moving average of $79.39. The firm has a market capitalization of $23.96 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46.

Eversource Energy (NYSE:ES – Get Rating) last issued its earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.24 billion. Eversource Energy had a return on equity of 9.51% and a net margin of 11.52%. Eversource Energy’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.36 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, May 18th will be given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Wednesday, May 17th. Eversource Energy’s payout ratio is 64.75%.

Eversource Energy Company Profile

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.