Eversource Energy (NYSE:ES) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Key Points

• JPMorgan cut Eversource Energy’s price target from $73 to $68 and maintained an “underweight” rating, implying roughly 5.55% upside from the stock’s current price.
• Analyst sentiment is mixed: Eversource has an overall “Hold” consensus rating and an average price target of $72, based on four Buy, five Hold, and three Sell ratings.
• Shares fell 3.6% to $64.42, while the company’s latest quarterly earnings matched estimates at $0.87 per share; institutional investors own approximately 80% of the stock.

Eversource Energy (NYSE:ES - Get Free Report) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $73.00 to $68.00 in a report released on Monday, Benzinga reports. The firm currently has an "underweight" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 5.55% from the stock's current price.

ES has been the subject of several other research reports. Mizuho boosted their target price on Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Wells Fargo & Company boosted their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a research report on Thursday, July 2nd. Capital One Financial set a $73.00 price objective on Eversource Energy in a report on Wednesday, July 1st. Finally, Citigroup restated a "hold" rating and set a $81.00 price objective on shares of Eversource Energy in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $72.00.

Eversource Energy Trading Down 3.6%

NYSE ES traded down $2.42 on Monday, reaching $64.42. The stock had a trading volume of 3,632,449 shares, compared to its average volume of 2,500,615. The firm has a market capitalization of $24.27 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.91 and a beta of 0.67. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average price of $68.41 and a two-hundred day moving average price of $69.86. Eversource Energy has a 12-month low of $62.72 and a 12-month high of $76.57.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The firm had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, sell-side analysts forecast that Eversource Energy will post 4.64 EPS for the current fiscal year.

Institutional Trading of Eversource Energy

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Eversource Energy in the second quarter worth about $3,086,413,000. Legal & General Group Plc bought a new position in shares of Eversource Energy during the 2nd quarter valued at about $359,215,000. Deutsche Bank AG bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $311,548,000. Hsbc Holdings PLC acquired a new position in Eversource Energy in the second quarter worth approximately $272,105,000. Finally, Magellan Asset Management Ltd acquired a new position in Eversource Energy in the second quarter worth approximately $248,397,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

About Eversource Energy

Eversource Energy NYSE: ES is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.