Short Interest in Eversource Energy (NYSE:ES) Decreases By 6.6%

Eversource Energy (NYSE:ES) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 4,250,000 shares, a drop of 6.6% from the August 31st total of 4,550,000 shares. Based on an average daily volume of 2,130,000 shares, the short-interest ratio is presently 2.0 days.

Eversource Energy Stock Down 0.4 %

ES stock opened at $67.75 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The firm has a market capitalization of $23.87 billion, a PE ratio of -57.42, a P/E/G ratio of 2.54 and a beta of 0.61. The company’s 50 day simple moving average is $66.50 and its 200-day simple moving average is $61.72.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. Equities analysts expect that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -242.37%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BMO Capital Markets dropped their price target on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, August 19th. Morgan Stanley lifted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Bank of America increased their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, Barclays increased their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $68.93.

Insider Buying and Selling at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated 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 directly owns 9,032 shares in the company, valued at approximately $591,596. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Eversource Energy

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Eversource Energy by 24.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock valued at $4,232,000 after buying an additional 13,950 shares during the period. Banque Cantonale Vaudoise grew its position in Eversource Energy by 38.3% during the first quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock valued at $3,394,000 after acquiring an additional 15,714 shares during the period. Great Oak Capital Partners LLC acquired a new stake in Eversource Energy during the fourth quarter worth about $1,047,000. Cibc World Markets Corp raised its holdings in shares of Eversource Energy by 133.3% in the 4th quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock worth $2,775,000 after purchasing an additional 25,688 shares during the period. Finally, Ethic Inc. lifted its stake in shares of Eversource Energy by 23.1% in the 4th quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock valued at $10,167,000 after purchasing an additional 30,890 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.