Eversource Energy’s (ES) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of Eversource Energy (NYSE:ES) in a research report released on Thursday morning, Marketbeat reports. The brokerage currently has a $58.00 price objective on the utilities provider’s stock, down from their prior price objective of $69.00.

ES has been the subject of a number of other reports. Jefferies Financial Group dropped their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Scotiabank cut their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Sunday, April 6th. Barclays reduced their target price 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. Finally, Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $65.78.

Eversource Energy Trading Down 1.2 %

ES stock opened at $55.63 on Thursday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The firm has a market cap of $20.42 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The firm has a fifty day moving average price of $60.45 and a 200 day moving average price of $60.91. 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 earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.41%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is currently 130.30%.

Insider Activity

In other news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred 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 owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

A number of large investors have recently made changes to their positions in the business. Vest Financial LLC purchased a new position in Eversource Energy during the 1st quarter worth $60,273,000. Thrive Wealth Management LLC acquired a new position in shares of Eversource Energy during the first quarter valued at about $326,000. Apella Capital LLC raised its position in shares of Eversource Energy by 10.5% in the 1st quarter. Apella Capital LLC now owns 4,079 shares of the utilities provider’s stock valued at $253,000 after purchasing an additional 389 shares during the last quarter. First Financial Corp IN grew its position in Eversource Energy by 3,529.4% during the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 600 shares during the last quarter. Finally, RFG Advisory LLC acquired a new position in Eversource Energy during the 1st quarter valued at approximately $215,000. 79.99% of the stock is owned by institutional investors and hedge funds.

About Eversource Energy

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.