JPMorgan Chase & Co. Reiterates “Underweight” Rating for Eversource Energy (NYSE:ES)

Eversource Energy (NYSE:ES)‘s stock had its “underweight” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They currently have a $58.00 price target on the utilities provider’s stock, down from their previous price target of $69.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 4.88% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company reduced their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Barclays dropped their price target 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. Jefferies Financial Group reduced their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Scotiabank lowered their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average price target of $66.50.

Eversource Energy Trading Down 1.8 %

NYSE:ES opened at $55.30 on Thursday. The firm has a market cap of $20.30 billion, a P/E ratio of 23.94, 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 firm’s fifty day moving average is $60.50 and its 200-day moving average is $60.98. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping 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%. Equities analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Transactions at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares in the company, valued at $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. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its holdings in 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 period. UMB Bank n.a. increased its position in shares of Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 197 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after buying an additional 216 shares during the last quarter. Ascent Group LLC raised its holdings in shares of Eversource Energy by 1.2% in the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider’s stock valued at $1,129,000 after buying an additional 230 shares during the period. Finally, Keybank National Association OH increased its holdings in Eversource Energy by 2.6% during the 4th 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 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.