JPMorgan Chase & Co. Reaffirms Underweight Rating for Eversource Energy (NYSE:ES)

Eversource Energy (NYSE:ES - Get Free Report)'s stock had its "underweight" rating reissued by research analysts at JPMorgan Chase & Co. in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $58.00 price target on the utilities provider's stock, down from their prior price target of $69.00. JPMorgan Chase & Co.'s price target points to a potential downside of 0.45% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. StockNews.com cut Eversource Energy from a "hold" rating to a "sell" rating in a research report on Sunday, April 6th. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Finally, Scotiabank dropped their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.78.

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Eversource Energy Trading Down 0.4 %

Shares of NYSE:ES traded down $0.22 during mid-day trading on Thursday, hitting $58.26. The stock had a trading volume of 1,049,331 shares, compared to its average volume of 2,901,101. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $21.39 billion, a PE ratio of 25.22, a P/E/G ratio of 2.35 and a beta of 0.58. The company's 50 day moving average is $60.41 and its 200-day moving average is $60.74.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Insiders Place Their Bets

In related news, insider Frederica M. Williams sold 3,092 shares of the business's stock in a transaction 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 owns 22,671 shares of the company's stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at approximately $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. Company insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ES. Vanguard Group Inc. raised its holdings in Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Eversource Energy by 38.6% in the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after purchasing an additional 4,585,232 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Eversource Energy by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider's stock worth $570,500,000 after purchasing an additional 226,972 shares during the period. Geode Capital Management LLC boosted its stake in Eversource Energy by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock worth $547,550,000 after buying an additional 517,042 shares in the last quarter. Finally, FMR LLC increased its holdings in Eversource Energy by 4.8% in the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock valued at $422,259,000 after buying an additional 333,529 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.