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J.P. Morgan Maintains Their Hold Rating on Eversource Energy (ES)

J.P. Morgan analyst Jeremy Tonet maintained a Hold rating on Eversource Energy (ESResearch Report) yesterday and set a price target of $90.00. The company’s shares closed last Thursday at $83.02.

According to TipRanks.com, Tonet is a 4-star analyst with an average return of 5.2% and a 54.5% success rate. Tonet covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Cheniere Energy Partners, and Dcp Midstream Partners.

Currently, the analyst consensus on Eversource Energy is a Hold with an average price target of $91.80, implying a 10.7% upside from current levels. In a report issued on July 12, Credit Suisse also maintained a Hold rating on the stock with a $87.00 price target.

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Based on Eversource Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.47 billion and net profit of $443 million. In comparison, last year the company earned revenue of $2.83 billion and had a net profit of $366 million.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ES in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Massachusetts-based Eversource Energy is an electric services company. The company is engaged in the transmission and distribution of electricity, as well as the distribution of natural gas. It also operates regulated water utilities. It operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution.

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