JPMorgan Chase & Co. Issues Pessimistic Forecast for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $72.00 to $71.00 in a report released on Friday,Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.07% from the stock’s current price.

Other analysts have also issued research reports about the company. BMO Capital Markets cut their price objective on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company downgraded Eversource Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $79.00 to $63.00 in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Mizuho reiterated a “neutral” rating and issued a $68.00 price objective (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Finally, Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $71.73.

Eversource Energy Stock Up 1.1%

Shares of Eversource Energy stock opened at $68.22 on Friday. The company has a market cap of $25.60 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The company’s 50 day moving average is $70.73 and its 200 day moving average is $67.26. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68.

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

Insider Activity

In related news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the sale, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. purchased a new position in shares of Eversource Energy in the first quarter worth $279,000. HighTower Advisors LLC increased its holdings in Eversource Energy by 213.3% in the 1st quarter. HighTower Advisors LLC now owns 175,122 shares of the utilities provider’s stock valued at $10,877,000 after acquiring an additional 119,232 shares during the last quarter. National Pension Service lifted its stake in Eversource Energy by 9.9% in the 1st quarter. National Pension Service now owns 528,981 shares of the utilities provider’s stock worth $32,855,000 after purchasing an additional 47,676 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Eversource Energy by 7.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 18,872 shares of the utilities provider’s stock valued at $1,172,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of Eversource Energy by 7.6% during the 1st quarter. Horizon Investments LLC now owns 5,262 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 373 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

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.