Eversource Energy (NYSE:ES) Stock Breaks Above 200-Day Moving Average – Time to Sell?

Eversource Energy (NYSE:ES) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $70.02 and traded as high as $71.54. Eversource Energy shares last traded at $70.2650, with a volume of 4,553,473 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ES shares. HSBC assumed coverage on shares of Eversource Energy in a report on Thursday, October 22nd. They issued a “hold” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Barclays initiated coverage on Eversource Energy in a research report on Friday. They issued an “equal weight” rating and a $76.00 price target on the stock. Weiss Ratings raised shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Finally, Mizuho lifted their target price on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.17.

Eversource Energy Stock Down 2.9%

The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80. The company has a market capitalization of $26.31 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 3.03 and a beta of 0.66. The company’s fifty day moving average is $67.35 and its 200-day moving average is $70.03.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, analysts predict that Eversource Energy will post 4.63 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a $0.7875 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. Eversource Energy’s payout ratio is presently 81.61%.

Institutional Trading of Eversource Energy

Several hedge funds have recently made changes to their positions in ES. BlackRock Inc. acquired a new stake in Eversource Energy in the 2nd quarter worth approximately $3,086,413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eversource Energy by 1.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,620,413 shares of the utilities provider’s stock worth $478,457,000 after purchasing an additional 88,163 shares during the last quarter. Legal & General Group Plc purchased a new stake in Eversource Energy during the 2nd quarter worth approximately $359,215,000. Deutsche Bank AG purchased a new stake in Eversource Energy during the 2nd quarter worth approximately $311,548,000. Finally, Hsbc Holdings PLC acquired a new position in Eversource Energy during the 2nd quarter valued at approximately $272,105,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.