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

Eversource Energy (NYSE:ES)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-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 changing hands.

Trending Headlines about Eversource Energy

Here are the key news stories impacting Eversource Energy this week:

• Positive Sentiment: Adjusted earnings were $0.92 per share, above the $0.90 FactSet estimate cited in one report. That modest beat may have supported the stock. Earnings estimate report
• Negative Sentiment: Revenue was $2.98 billion, below the $3.20 billion FactSet estimate and down 7.5% from a year earlier. Revenue estimate report
• Negative Sentiment: The $0.92 per-share result also missed Zacks’ $0.97 consensus and was below the $1.19 in recurring earnings reported a year ago. Eversource reported $346 million in GAAP earnings, compared with $367.5 million a year earlier. Zacks earnings report

Analyst Ratings Changes

A number of brokerages have recently issued reports on ES. Mizuho raised their price objective on Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Citigroup initiated coverage on shares of Eversource Energy in a research note on Monday, July 27th. They issued a “hold” rating and a $81.00 target price on the stock. BMO Capital Markets cut their price target on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. JPMorgan Chase & Co. cut their target price on Eversource Energy from $73.00 to $68.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Finally, HSBC initiated coverage on Eversource Energy in a research report on Thursday, October 22nd. They set a “hold” rating and a $70.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $72.91.

Eversource Energy Stock Up 1.8%

The stock’s 50 day simple moving average is $67.37 and its two-hundred day simple moving average is $70.02. The firm has a market cap of $26.47 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.01 and a beta of 0.66. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74.

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 net margin of 10.35% and a return on equity of 11.33%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, research analysts forecast that Eversource Energy will post 4.63 earnings per share for the current year.

Eversource Energy Dividend Announcement

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

Hedge Funds Weigh In On Eversource Energy

Several institutional investors have recently made changes to their positions in the business. Lido Advisors LLC boosted its position in Eversource Energy by 0.7% during the third quarter. Lido Advisors LLC now owns 28,243 shares of the utilities provider’s stock worth $1,812,000 after purchasing an additional 208 shares in the last quarter. Keybank National Association OH lifted its stake in Eversource Energy by 7.6% in the 3rd quarter. Keybank National Association OH now owns 16,000 shares of the utilities provider’s stock valued at $1,027,000 after buying an additional 1,128 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Eversource Energy by 0.3% in the 3rd quarter. New York Life Investment Management LLC now owns 56,331 shares of the utilities provider’s stock worth $3,614,000 after buying an additional 173 shares during the last quarter. M&G PLC raised its stake in Eversource Energy by 3.7% in the 3rd quarter. M&G PLC now owns 898,389 shares of the utilities provider’s stock valued at $57,497,000 after purchasing an additional 32,447 shares during the last quarter. Finally, AlphaCore Capital LLC lifted its holdings in Eversource Energy by 14.5% in the 3rd quarter. AlphaCore Capital LLC now owns 33,511 shares of the utilities provider’s stock valued at $2,150,000 after purchasing an additional 4,237 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

About Eversource Energy

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.