Eversource Energy (ES) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Eversource Energy (NYSE:ES) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Shares of Eversource Energy returned higher than the industry in last 12 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.”

A number of other brokerages have also issued reports on ES. Morgan Stanley upgraded shares of Eversource Energy from an equal weight rating to an overweight rating and set a $72.00 target price on the stock in a research note on Wednesday, December 13th. Bank of America assumed coverage on shares of Eversource Energy in a research note on Tuesday, October 24th. They issued an underperform rating and a $62.00 target price on the stock. Williams Capital upped their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company a buy rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group upped their target price on shares of Eversource Energy from $60.00 to $63.00 and gave the company a neutral rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $65.15.

Shares of Eversource Energy (NYSE ES) opened at $61.82 on Wednesday. The stock has a market cap of $19,555.02, a PE ratio of 20.04, a PEG ratio of 3.14 and a beta of 0.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. Eversource Energy has a 12 month low of $54.08 and a 12 month high of $66.15.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. sell-side analysts forecast that Eversource Energy will post 3.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, December 15th. Eversource Energy’s dividend payout ratio is presently 61.69%.

In related news, COO Werner J. Schweiger sold 10,098 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its position in Eversource Energy by 1.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 32 shares during the last quarter. Atlantic Trust Group LLC grew its position in Eversource Energy by 0.3% in the 2nd quarter. Atlantic Trust Group LLC now owns 27,142 shares of the utilities provider’s stock worth $1,649,000 after purchasing an additional 68 shares during the last quarter. MML Investors Services LLC grew its position in Eversource Energy by 0.5% in the 2nd quarter. MML Investors Services LLC now owns 14,104 shares of the utilities provider’s stock worth $856,000 after purchasing an additional 73 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Eversource Energy by 1.0% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 19,293 shares of the utilities provider’s stock worth $1,171,000 after purchasing an additional 197 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Eversource Energy by 0.5% in the 2nd quarter. Nordea Investment Management AB now owns 60,891 shares of the utilities provider’s stock worth $3,697,000 after purchasing an additional 283 shares during the last quarter. 72.14% of the stock is owned by institutional investors and hedge funds.

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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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