Eversource Energy (NYSE:ES) Receives Underweight Rating from JPMorgan Chase & Co.

Eversource Energy (NYSE:ES)‘s stock had its “underweight” rating reissued by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Thursday, Marketbeat reports. They presently have a $58.00 price objective on the utilities provider’s stock, down from their previous price objective of $69.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 3.07% from the stock’s previous close.

ES has been the topic of several other research reports. Jefferies Financial Group decreased their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Barclays decreased their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Wells Fargo & Company decreased their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus price target of $65.78.

Eversource Energy Stock Up 1.0 %

Shares of NYSE ES opened at $56.27 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a market cap of $20.66 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.35 and a beta of 0.58. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The business has a 50-day simple moving average of $60.41 and a two-hundred day simple moving average of $60.84.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors have recently added to or reduced their stakes in ES. Exchange Traded Concepts LLC grew its holdings in shares of Eversource Energy by 10.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after buying an additional 176 shares during the last quarter. UMB Bank n.a. lifted its position in Eversource Energy by 38.4% during the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 197 shares during the period. Summit Trail Advisors LLC grew its stake in Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 216 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Eversource Energy by 1.2% in the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider’s stock valued at $1,129,000 after purchasing an additional 230 shares during the period. Finally, Keybank National Association OH raised its stake in shares of Eversource Energy by 2.6% in the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

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. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.