JPMorgan Chase & Co. Buys 151,562 Shares of Eversource Energy (NYSE:ES)

JPMorgan Chase & Co. boosted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,569,671 shares of the utilities provider's stock after buying an additional 151,562 shares during the period. JPMorgan Chase & Co. owned approximately 0.43% of Eversource Energy worth $90,146,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after buying an additional 1,387,072 shares in the last quarter. State Street Corp lifted its holdings in Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider's stock worth $1,737,990,000 after acquiring an additional 430,587 shares during the period. Wellington Management Group LLP purchased a new position in Eversource Energy in the third quarter worth $808,783,000. Charles Schwab Investment Management Inc. grew its stake in Eversource Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider's stock valued at $570,500,000 after purchasing an additional 226,972 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Eversource Energy by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider's stock valued at $613,233,000 after purchasing an additional 268,588 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

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Insider Transactions at Eversource Energy

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Jefferies Financial Group dropped their price objective on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. StockNews.com downgraded Eversource Energy from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Scotiabank dropped their price target on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $67.44.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded down $1.26 during trading on Tuesday, hitting $54.30. The stock had a trading volume of 3,500,760 shares, compared to its average volume of 2,302,955. The firm has a market cap of $19.93 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.35 and a beta of 0.58. Eversource Energy has a 12 month low of $53.66 and a 12 month high of $69.01. The business's 50-day moving average is $60.55 and its 200 day moving average is $61.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were given a dividend of $0.7525 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.54%. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio (DPR) is 130.30%.

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.