Eversource Energy (ES) Cut to Sell at Citigroup

Eversource Energy (NYSE:ES) was downgraded by investment analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued on Friday, The Fly reports.

Several other equities research analysts have also recently commented on the company. Janney Montgomery Scott cut Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday. UBS Group began coverage on Eversource Energy in a report on Friday. They issued a “neutral” rating and a $66.00 price target for the company. Guggenheim reaffirmed a “buy” rating and issued a $64.00 price target on shares of Eversource Energy in a report on Friday. Credit Suisse Group cut Eversource Energy from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $63.00 to $59.00 in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Eversource Energy from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Eversource Energy has a consensus rating of “Hold” and a consensus target price of $64.63.

Shares of Eversource Energy (NYSE:ES) opened at $60.16 on Friday. Eversource Energy has a fifty-two week low of $54.55 and a fifty-two week high of $66.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market capitalization of $19,992.33 and a P/E ratio of 19.53.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $0.83 EPS. Eversource Energy’s revenue for the quarter was down 2.5% compared to the same quarter last year. research analysts forecast that Eversource Energy will post 3.13 EPS for the current year.

In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $64.68, for a total transaction of $653,138.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Eversource Energy by 1.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,755 shares of the utilities provider’s stock valued at $55,106,000 after buying an additional 10,934 shares in the last quarter. Troy Asset Management Ltd boosted its holdings in Eversource Energy by 14.4% in the third quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock valued at $3,354,000 after purchasing an additional 7,000 shares during the period. Toronto Dominion Bank boosted its holdings in Eversource Energy by 25.5% in the second quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock valued at $6,516,000 after purchasing an additional 21,833 shares during the period. California State Teachers Retirement System boosted its holdings in Eversource Energy by 1.1% in the second quarter. California State Teachers Retirement System now owns 658,814 shares of the utilities provider’s stock valued at $39,997,000 after purchasing an additional 6,929 shares during the period. Finally, Commerce Bank boosted its holdings in Eversource Energy by 1.2% in the third quarter. Commerce Bank now owns 346,419 shares of the utilities provider’s stock valued at $20,938,000 after purchasing an additional 4,160 shares during the period. 72.11% of the stock is owned by institutional investors and hedge funds.

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About Eversource Energy

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.

The Fly

Analyst Recommendations for Eversource Energy (NYSE:ES)