JPMorgan Chase & Co. Purchases 13,908 Shares of Eversource Energy (NYSE:ES)

JPMorgan Chase & Co. lifted its holdings in Eversource Energy (NYSE:ES) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,418,109 shares of the utilities provider’s stock after purchasing an additional 13,908 shares during the period. JPMorgan Chase & Co. owned 0.39% of Eversource Energy worth $96,502,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Wellington Management Group LLP acquired a new stake in Eversource Energy in the 3rd quarter worth $808,783,000. Los Angeles Capital Management LLC increased its stake in Eversource Energy by 201.4% during the second quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock valued at $55,273,000 after acquiring an additional 651,263 shares during the period. National Bank of Canada FI raised its holdings in Eversource Energy by 446.0% in the 3rd quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after acquiring an additional 612,421 shares in the last quarter. Millennium Management LLC lifted its position in shares of Eversource Energy by 75.8% in the 2nd quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock worth $74,142,000 after acquiring an additional 563,756 shares during the period. Finally, State Street Corp grew its holdings in shares of Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $57.34 on Friday. The business has a fifty day moving average of $60.97 and a 200-day moving average of $62.93. The firm has a market cap of $21.01 billion, a PE ratio of -36.52, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were given a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.86 dividend on an annualized basis and a yield of 4.99%. Eversource Energy’s payout ratio is -182.17%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ES. BMO Capital Markets cut their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Barclays increased their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $66.00 to $56.00 in a research note on Thursday, December 12th. Finally, Mizuho raised their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $68.38.

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.