Notable Analyst Upgrades and Downgrades for Week of February 21 2022

 

Upgrades:

 

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Tuesday, Briefing.com reports. The brokerage presently has a $60.00 target price on the business services provider’s stock, down from their prior target price of $69.00. Royal Bank of Canada’s price target would indicate a potential upside of 17.00% from the stock’s current price.

RBA has been the topic of a number of other reports. OTR Global reissued a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, November 2nd. Raymond James decreased their price objective on shares of Ritchie Bros. Auctioneers from $60.00 to $57.00 and set a “market perform” rating on the stock in a research note on Friday. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 27th. TD Securities raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 6th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Wednesday, November 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Ritchie Bros. Auctioneers has a consensus rating of “Hold” and a consensus price target of $61.00. Read more …

 

Sysco (NYSE:SYY) was upgraded by analysts at Argus from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday, The Fly reports.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price target on Sysco from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Friday, December 17th. Barclays upgraded Sysco from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $80.00 to $86.00 in a research report on Wednesday, December 15th. Truist Financial started coverage on Sysco in a research report on Tuesday, February 1st. They issued a "buy" rating and a $89.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Sysco in a research report on Tuesday, January 4th. They issued a "hold" rating and a $82.00 target price on the stock. Finally, Morgan Stanley lifted their target price on Sysco from $85.00 to $86.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $87.63. Read more …

 

American Water Works (NYSE:AWK) was upgraded by investment analysts at HSBC to a "buy" rating in a report released on Wednesday, Stock Target Advisor reports. The brokerage currently has a $182.00 target price on the utilities provider's stock, down from their prior target price of $190.00. HSBC's price objective indicates a potential upside of 23.11% from the company's previous close.

A number of other equities research analysts also recently issued reports on AWK. The Goldman Sachs Group downgraded American Water Works from a "buy" rating to a "neutral" rating and lowered their price target for the company from $191.00 to $177.00 in a research report on Wednesday, November 3rd. Wells Fargo & Company decreased their target price on American Water Works from $170.00 to $162.00 and set an "underweight" rating for the company in a research report on Wednesday, January 19th. UBS Group raised American Water Works from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $164.00 to $161.00 in a research report on Monday, February 7th. Zacks Investment Research raised American Water Works from a "sell" rating to a "hold" rating and set a $163.00 target price for the company in a research report on Wednesday, February 9th. Finally, JPMorgan Chase & Co. downgraded American Water Works from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $172.00 to $171.00 in a research report on Friday, January 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $174.60. Read more …

 

 

Intel (NASDAQ:INTC) was upgraded by research analysts at Raymond James to a “market perform” rating in a research note issued to investors on Wednesday, Stock Target Advisor reports.

Other analysts also recently issued reports about the company. Bank of America lowered their price target on Intel from $55.00 to $52.00 and set an “underperform” rating for the company in a research report on Thursday, January 27th. Sanford C. Bernstein set a $40.00 price target on Intel in a research report on Tuesday, February 15th. Citigroup lowered their price target on Intel from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, January 27th. BMO Capital Markets decreased their target price on Intel from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, February 18th. Finally, Morgan Stanley set a $55.00 target price on Intel in a research report on Tuesday, December 7th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.07. Read more …

 

Dollar General (NYSE:DG) was upgraded by equities researchers at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Friday, Briefing.com reports. The firm currently has a $220.00 price objective on the stock. Wells Fargo & Company's price objective indicates a potential upside of 15.30% from the stock's current price.

DG has been the subject of several other reports. Truist Financial started coverage on Dollar General in a research report on Thursday, January 13th. They issued a "hold" rating and a $228.00 target price for the company. BMO Capital Markets reiterated a "buy" rating and issued a $250.00 price objective on shares of Dollar General in a report on Friday, December 3rd. Morgan Stanley downgraded shares of Dollar General from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $250.00 to $225.00 in a research report on Tuesday, January 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Dollar General from $254.00 to $251.00 and set a "buy" rating on the stock in a report on Friday, December 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $239.89. Read more …

 

Home Depot (NYSE:HD) was upgraded by Edward Jones from a "hold" rating to a "buy" rating in a report issued on Friday, FinViz reports.

HD has been the topic of a number of other research reports. Robert W. Baird reduced their price objective on Home Depot from $425.00 to $380.00 in a research note on Tuesday. Barclays upped their price objective on Home Depot from $350.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday, November 17th. TheStreet downgraded Home Depot from a "b" rating to a "c+" rating in a report on Tuesday. Credit Suisse Group upped their price objective on Home Depot from $357.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday, November 18th. Finally, Evercore ISI increased their price target on Home Depot from $385.00 to $420.00 and gave the stock an "outperform" rating in a report on Wednesday, November 17th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of "Buy" and an average price target of $394.48. Read more …

 

 

 

Downgrades:

 

Eversource Energy (NYSE:ES) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, Analyst Ratings Network reports. They currently have a $80.00 price target on the utilities provider’s stock. Bank of America‘s target price points to a potential downside of 1.17% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Morgan Stanley dropped their price objective on shares of Eversource Energy from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Friday, February 18th. Wells Fargo & Company reduced their price objective on shares of Eversource Energy from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho raised Eversource Energy from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $82.00 to $87.00 in a research report on Thursday, October 28th. BMO Capital Markets lowered Eversource Energy from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research report on Monday, January 10th. Finally, StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 16th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.00. Read more …

 

Dividend Increases Week 5 (Part 1)

 

In this article, I will go through the weekly dividend increases and cuts in popular and well-known stocks. (Member of The Dividend Champions or Canadian All-Star list)

 

Recently, 28 companies announced dividend increases. Note that no dividend cuts or suspensions were announced during this period. This is the first part of the weeks notifications.

 

The table below summarises the dividend change announcements.  The table shows the current dividend, the new dividend and the percentage increase (%). Dividends are shown on an annual basis and in US dollars unless otherwise stated. Yield is the new dividend yield of the most recent price, and Years is the years of consecutive dividend increases.

 

 

 

 

 

German American Bancorp, Inc. (GABC)

German American Bancorp, Inc. operates as the bank holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. German American Bancorp, Inc. was founded in 1910 and is based in Jasper, Indiana.

On January 31, GABC declared a quarterly dividend of $0.23 per share.

This is a 9.5% increase from prior dividend of $0.21. 

Payable February 20 for shareholders of record February 10, ex-div February 9.

 

United Parcel Service, Inc. (UPS)

United Parcel Service, Inc. provides letter and package delivery, transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. United Parcel Service, Inc. was founded in 1907 and is headquartered in Atlanta, Georgia.

On February 1, UPS declared a quarterly dividend of $1.52 per share.

This is a 49.0% increase from prior dividend of $1.02. 

Payable March 10 for shareholders of record February 22, ex-div February 18.

 

CSG Systems International, Inc. (CSGS)

CSG Systems International, Inc. provides revenue management, customer experience, and payment solutions primarily to the communications industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company was incorporated in 1994 and is headquartered in Greenwood Village, Colorado.

On February 1, CSGS declared a quarterly dividend of $0.265 per share.

This is a 6.0% increase from prior dividend of $0.25. 

Payable March 30 for shareholders of record March 18, ex-div March 17.

 

Gilead Sciences, Inc. (GILD)

Gilead Sciences, Inc., a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company was founded in 1987 and is headquartered in Foster City, California.

On February 1, GILD declared a quarterly dividend of $0.73 per share.

This is a 2.8% increase from prior dividend of $0.71. 

Payable March 30 for shareholders of record March 15, ex-div March 14.

 

Midland States Bancorp, Inc. (MSBI)

Midland States Bancorp, Inc. operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company accepts various deposits, such as checking, savings, money market, and sweep accounts, as well as certificates of deposits. The company was founded in 1881 and is headquartered in Effingham, Illinois.

On February 1, MSBI declared a quarterly dividend of $0.29 per share.

This is a 3.6% increase from prior dividend of $0.28. 

Payable February 18 for shareholders of record February 11, ex-div February 10.

 

 

Old Dominion Freight Line, Inc. (ODFL)

Old Dominion Freight Line, Inc. operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting. It owns 9,288 tractors and 42 maintenance centers. As of August 3, 2021, it owned 248 service centers. Old Dominion Freight Line, Inc. was founded in 1934 and is based in Thomasville, North Carolina.

On February 2, ODFL declared a quarterly dividend of $0.30 per share.

This is a 50.0% increase from prior dividend of $0.20. 

Payable March 16 for shareholders of record March 2, ex-div March 1.

 

Brookfield Infrastructure Partners L.P. (BIP)

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company was incorporated in 2007 and is based in Hamilton, Bermuda. Brookfield Infrastructure Partners L.P. is a subsidiary of Brookfield Asset Management Inc.

On February 2, BIP declared a quarterly dividend of $0.54 per share.

This is a 5.9% increase from prior dividend of $0.51. 

Payable March 31 for shareholders of record February 28, ex-div February 25.

 

Corning Incorporated (GLW)

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

On February 2, GLW declared a quarterly dividend of $0.27 per share.

This is a 12.5% increase from prior dividend of $0.24. 

Payable March 30 for shareholders of record February 28, ex-div February 25.

 

Eversource Energy (ES)

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. The company was formerly known as Northeast Utilities and changed its name to Eversource Energy in April 2015. Eversource Energy is based in Springfield, Massachusetts.

On February 2, ES declared a quarterly dividend of $0.6375 per share.

This is a 5.8% increase from prior dividend of $0.6025.  

Payable March 31 for shareholders of record March 3, ex-div March 3.

 

Hawkins, Inc. (HWKN)

Hawkins, Inc. blends, manufactures, and distributes chemicals and other specialty ingredients in the United States and internationally. It operates through three segments: Industrial, Water Treatment, and Health and Nutrition. The company was founded in 1938 and is headquartered in Roseville, Minnesota.

On February 2, HWKN declared a quarterly dividend of $0.14 per share.

This is a 7.7% increase from prior dividend of $0.14. 

Payable March 4 for shareholders of record February 18, ex-div February 17.

 

 

ALLETE, Inc. (ALE)

ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.

On February 3, ALE declared a quarterly dividend of $0.65 per share.

This is a 3.2% increase from prior dividend of $0.63. 

Payable March 1 for shareholders of record February 15, ex-div February 14.

 

PNM Resources, Inc. (PNM)

PNM Resources, Inc., through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. PNM Resources, Inc. was incorporated in 1917 and is headquartered in Albuquerque, New Mexico.

On February 3, PNM declared a quarterly dividend of $0.3475 per share.

This is a 6.1% increase from prior dividend of $0.3275. 

Payable February 24 for shareholders of record February 14, ex-div February 11.

 

Quest Diagnostics Incorporated (DGX)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services. Quest Diagnostics Incorporated was founded in 1967 and is headquartered in Secaucus, New Jersey.

On February 3, GDX declared a quarterly dividend of $0.66 per share.

This is a 6.5% increase from prior dividend of $0.62. 

Payable April 20 for shareholders of record April 6, ex-div April 5.

 

BCE Inc. (BCE)

BCE Inc., a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. BCE Inc. was founded in 1880 and is headquartered in Verdun, Canada.

On February 3, BCE declared a quarterly dividend of C$0.92 per share.

This is a 5.1% increase from prior dividend of C$0.875. 

Payable April 15 for shareholders of record March 15, ex-div March 14.

 

Enviva Inc. (EVA)

Enviva Inc. produces and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, Europe, and Japan. The company was formerly known as Enviva Partners, LP. Enviva Inc. was founded in 2013 and is headquartered in Bethesda, Maryland.

On February 3, EVA declared a quarterly dividend of $0.86 per share.

This is a 2.4% increase from prior dividend of $0.84. 

Payable February 25 for shareholders of record February 14, ex-div February 11.