Eversource Energy (NYSE:ES) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Eversource Energy (NYSE:ES) in a research note released on Wednesday, Benzinga reports. The brokerage issued a neutral rating and a $86.00 price objective on the utilities provider’s stock.

ES has been the subject of a number of other reports. KeyCorp increased their price target on Eversource Energy from $88.00 to $95.00 and gave the company an overweight rating in a research report on Monday, October 21st. Guggenheim raised Eversource Energy from a neutral rating to a buy rating and increased their price target for the company from $76.00 to $88.00 in a research report on Wednesday, September 4th. ValuEngine lowered Eversource Energy from a buy rating to a hold rating in a research report on Wednesday, October 2nd. UBS Group lowered Eversource Energy from a buy rating to a neutral rating and set a $91.00 price target for the company. in a research report on Tuesday, October 29th. Finally, Morgan Stanley raised their target price on Eversource Energy from $80.00 to $83.00 and gave the company an equal weight rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $81.83.

NYSE ES opened at $81.34 on Wednesday. The firm has a market capitalization of $26.33 billion, a P/E ratio of 24.80, a PEG ratio of 4.18 and a beta of 0.16. The business has a fifty day simple moving average of $82.02 and a 200 day simple moving average of $80.11. Eversource Energy has a 12 month low of $62.61 and a 12 month high of $86.55. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.11.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.26 billion. Eversource Energy had a return on equity of 9.28% and a net margin of 10.46%. Eversource Energy’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. As a group, sell-side analysts predict that Eversource Energy will post 3.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Thursday, December 19th. Eversource Energy’s dividend payout ratio is presently 65.24%.

Several institutional investors have recently made changes to their positions in the company. Resources Management Corp CT ADV purchased a new stake in shares of Eversource Energy during the 3rd quarter valued at $446,000. Metropolitan Life Insurance Co NY grew its stake in shares of Eversource Energy by 1.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 48,530 shares of the utilities provider’s stock worth $4,148,000 after acquiring an additional 643 shares during the period. Man Group plc grew its stake in shares of Eversource Energy by 81.2% during the 3rd quarter. Man Group plc now owns 104,263 shares of the utilities provider’s stock worth $8,911,000 after acquiring an additional 46,735 shares during the period. Bank of Hawaii bought a new position in shares of Eversource Energy during the 3rd quarter worth $269,000. Finally, IHT Wealth Management LLC bought a new position in shares of Eversource Energy during the 3rd quarter worth $213,000. 81.59% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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Analyst Recommendations for Eversource Energy (NYSE:ES)

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