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

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

A number of other analysts have also weighed in on the stock. UBS Group reduced their price target on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Monday, April 27th. BMO Capital Markets reduced their target price on shares of Eversource Energy from $75.00 to $73.00 and set a “market perform” rating for the company in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Finally, Wells Fargo & Company upped their price target on Eversource Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Three equities 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 stock currently has a consensus rating of “Hold” and a consensus target price of $71.70.

Eversource Energy Trading Down 1.0%

Shares of NYSE:ES opened at $68.47 on Friday. The company has a 50 day moving average of $68.85 and a 200-day moving average of $69.31. The firm has a market cap of $25.75 billion, a P/E ratio of 14.63, a P/E/G ratio of 4.58 and a beta of 0.71. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62.

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

Insider Buying and Selling

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

Institutional Trading of Eversource Energy

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Eversource Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after acquiring an additional 697,829 shares in the last quarter. State Street Corp grew its position in Eversource Energy by 4.7% in the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock worth $1,886,119,000 after acquiring an additional 1,265,802 shares in the last quarter. Geode Capital Management LLC grew its position in Eversource Energy by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock worth $646,233,000 after acquiring an additional 194,781 shares in the last quarter. Victory Capital Management Inc. grew its position in Eversource Energy by 61.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock worth $642,747,000 after acquiring an additional 3,645,555 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its position in Eversource Energy by 6.5% in the third quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock worth $526,919,000 after acquiring an additional 454,658 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

About Eversource Energy

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.