Eversource Energy (NYSE:ES) Price Target Lowered to $71.00 at JPMorgan Chase & Co.

Eversource Energy (NYSE:ES) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $72.00 to $71.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 4.17% from the company’s previous close.

A number of other research firms also recently weighed in on ES. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Thursday, November 6th. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Finally, Mizuho reissued a “neutral” rating and set a $68.00 price target (down from $81.00) on shares of Eversource Energy in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $71.73.

Eversource Energy Trading Up 1.0%

NYSE:ES traded up $0.66 during mid-day trading on Friday, reaching $68.16. 677,644 shares of the company’s stock traded hands, compared to its average volume of 2,764,914. The company has a 50 day moving average price of $70.82 and a 200-day moving average price of $67.21. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.40 and a beta of 0.76. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the transaction, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eversource Energy

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Eversource Energy by 2.5% during the third quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock valued at $3,330,374,000 after acquiring an additional 1,161,708 shares during the last quarter. State Street Corp grew its stake in shares of Eversource Energy by 1.7% during the 2nd quarter. State Street Corp now owns 27,343,038 shares of the utilities provider’s stock valued at $1,739,564,000 after purchasing an additional 465,822 shares during the period. Wellington Management Group LLP increased its position in shares of Eversource Energy by 4.5% during the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after purchasing an additional 739,448 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Eversource Energy by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider’s stock worth $587,449,000 after purchasing an additional 211,962 shares during the period. Finally, Magellan Asset Management Ltd lifted its stake in shares of Eversource Energy by 6.5% in the 3rd quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock worth $526,919,000 after purchasing an additional 454,658 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.