Short Interest in Eversource Energy (NYSE:ES) Decreases By 6.2%

Eversource Energy (NYSE:ES) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 4,270,000 shares, a decline of 6.2% from the July 15th total of 4,550,000 shares. Based on an average trading volume of 2,080,000 shares, the short-interest ratio is presently 2.1 days.

Insider Activity

In related news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the sale, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,015 shares of company stock valued at $806,478. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

A number of hedge funds have recently bought and sold shares of the company. Heritage Wealth Advisors purchased a new stake in shares of Eversource Energy in the fourth quarter valued at $25,000. Lynx Investment Advisory bought a new position in Eversource Energy during the second quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Eversource Energy in the first quarter valued at approximately $27,000. Bfsg LLC bought a new stake in Eversource Energy in the fourth quarter worth approximately $31,000. Finally, Versant Capital Management Inc increased its stake in shares of Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

NYSE ES opened at $66.00 on Wednesday. The stock has a market capitalization of $23.25 billion, a P/E ratio of -55.93, a P/E/G ratio of 2.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. The business’s fifty day moving average is $61.19 and its two-hundred day moving average is $59.69. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $68.72.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. Eversource Energy’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Scotiabank increased their price objective on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Barclays lifted their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Morgan Stanley decreased their target price on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Finally, Bank of America raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price target for the company in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.86.

Eversource Energy Company Profile

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.