Eversource Energy (NYSE:ES) Short Interest Update

Eversource Energy (NYSE:ES) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 4,370,000 shares, an increase of 6.6% from the October 31st total of 4,100,000 shares. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is currently 2.1 days.

Eversource Energy Trading Down 1.3 %

NYSE:ES opened at $63.67 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The stock’s 50-day simple moving average is $64.33 and its 200 day simple moving average is $63.03. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm posted $0.97 EPS. Eversource Energy’s revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.49%. Eversource Energy’s payout ratio is -182.17%.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently made changes to their positions in ES. Bensler LLC acquired a new stake in Eversource Energy in the second quarter worth about $316,000. M&G Plc lifted its holdings in Eversource Energy by 16.8% during the 2nd quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock worth $92,721,000 after buying an additional 234,361 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Eversource Energy by 46.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after acquiring an additional 10,093 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Eversource Energy by 283.2% during the first quarter. Cetera Investment Advisers now owns 91,062 shares of the utilities provider’s stock worth $5,443,000 after buying an additional 67,300 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Eversource Energy by 23.2% during the 2nd quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock worth $7,636,000 after purchasing an additional 25,377 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ES. BMO Capital Markets reduced their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Barclays lifted their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Mizuho raised their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.58.

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.