Eversource Energy (NYSE:ES) Coverage Initiated by Analysts at JPMorgan Chase & Co.

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

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

Shares of Eversource Energy stock opened at $81.34 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.59 and a quick ratio of 0.54. The business’s 50 day simple moving average is $82.02 and its two-hundred day simple moving average is $80.11. The stock has a market capitalization of $26.33 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 4.18 and a beta of 0.16. Eversource Energy has a one year low of $62.61 and a one year high of $86.55.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The firm had revenue of $2.18 billion for 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%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. Sell-side analysts expect that Eversource Energy will post 3.45 earnings per share for the current fiscal year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ES. Paragon Capital Management LLC boosted its position in shares of Eversource Energy by 478.9% during the second quarter. Paragon Capital Management LLC now owns 330 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $25,000. Kavar Capital Partners LLC bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $30,000. FTB Advisors Inc. boosted its position in shares of Eversource Energy by 614.3% during the second quarter. FTB Advisors Inc. now owns 600 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 516 shares in the last quarter. Finally, CSat Investment Advisory L.P. boosted its position in shares of Eversource Energy by 245.7% during the second quarter. CSat Investment Advisory L.P. now owns 650 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 462 shares in the last quarter. Institutional investors own 81.59% 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 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.

Featured Story: How to use beta for portfolio diversification

Analyst Recommendations for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.