Eversource Energy $ES Holdings Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Eversource Energy (NYSE:ES) by 30.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,391,874 shares of the utilities provider’s stock after selling 620,162 shares during the period. JPMorgan Chase & Co. owned 0.38% of Eversource Energy worth $88,561,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. PDS Planning Inc lifted its holdings in shares of Eversource Energy by 4.7% in the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 173 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in Eversource Energy by 2.9% in the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock worth $393,000 after buying an additional 176 shares during the period. Thrive Wealth Management LLC lifted its stake in Eversource Energy by 3.6% in the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock valued at $346,000 after buying an additional 189 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its holdings in shares of Eversource Energy by 1.4% during the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock valued at $917,000 after acquiring an additional 195 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Eversource Energy by 17.9% during the second quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock valued at $82,000 after acquiring an additional 195 shares during the period. 79.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ES shares. TD Cowen began coverage on shares of Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective on the stock. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a research note on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Scotiabank reduced their price objective on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Thursday, November 20th. Finally, UBS Group cut Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.55.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $66.72 on Friday. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.92 and a beta of 0.69. The stock’s 50 day moving average price is $71.36 and its 200 day moving average price is $66.95. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64.

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

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio is presently 82.47%.

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.