Eversource Energy (NYSE:ES) Cut to Hold at Argus

Eversource Energy (NYSE:ES) was downgraded by stock analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat Ratings reports.

ES has been the topic of several other reports. Seaport Research Partners cut shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. BMO Capital Markets dropped their price target on shares of Eversource Energy from $75.00 to $73.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. UBS Group cut their price target on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Scotiabank cut their price target on shares of Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $71.70.

Eversource Energy Price Performance

ES stock opened at $68.47 on Friday. The stock has a market capitalization of $25.75 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 4.58 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62. Eversource Energy has a 52-week low of $61.53 and a 52-week high of $76.41. The stock’s fifty day simple moving average is $68.85 and its 200-day simple moving average is $69.31.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.59 by $0.14. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the firm posted $1.50 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities research analysts expect that Eversource Energy will post 4.65 EPS for the current year.

Insiders Place Their Bets

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the transaction, the vice president directly owned 56,179 shares of the company’s stock, valued at $3,925,788.52. This trade represents a 11.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Aventail Capital Group LP boosted its holdings in shares of Eversource Energy by 134.6% in the 3rd quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider’s stock valued at $97,186,000 after buying an additional 783,768 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Eversource Energy by 87.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,060,902 shares of the utilities provider’s stock valued at $75,461,000 after buying an additional 494,158 shares during the period. Caprock Group LLC acquired a new position in Eversource Energy during the 3rd quarter valued at about $1,511,000. Legal & General Group Plc boosted its stake in Eversource Energy by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider’s stock valued at $361,996,000 after purchasing an additional 63,466 shares during the period. Finally, Brick & Kyle Associates acquired a new position in Eversource Energy during the 3rd quarter valued at about $7,067,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.