Eversource Energy (NYSE:ES) Rating Lowered to “Neutral” at UBS Group

Eversource Energy (NYSE:ES) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $78.00 price target on the utilities provider’s stock. UBS Group’s price objective indicates a potential upside of 6.75% from the stock’s current price.

ES has been the subject of several other research reports. TD Cowen started coverage on Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Scotiabank upped their target price on shares of Eversource Energy from $55.00 to $64.00 and gave the company a “sector underperform” rating in a research note on Wednesday. Mizuho lifted their price target on shares of Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.70.

Eversource Energy Stock Up 2.1%

Shares of Eversource Energy stock opened at $73.07 on Thursday. The company has a 50-day simple moving average of $69.81 and a two-hundred day simple moving average of $65.99. The stock has a market capitalization of $27.12 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.57 and a beta of 0.69. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.19%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 earnings per share. On average, analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. United Asset Strategies Inc. raised its holdings in Eversource Energy by 1.0% during the third quarter. United Asset Strategies Inc. now owns 13,288 shares of the utilities provider’s stock valued at $945,000 after acquiring an additional 138 shares during the period. Mystic Asset Management Inc. lifted its holdings in Eversource Energy by 0.9% in the 3rd quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock worth $1,177,000 after purchasing an additional 150 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Eversource Energy by 3.3% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 162 shares during the period. PDS Planning Inc grew its holdings in Eversource Energy by 4.7% during the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after buying an additional 173 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its position in shares of Eversource Energy by 2.9% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after buying an additional 176 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

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.