Eversource Energy (NYSE:ES) Short Interest Update

Eversource Energy (NYSE:ES) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 4,590,000 shares, an increase of 8.0% from the September 15th total of 4,250,000 shares. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analyst Weigh In

ES has been the subject of several recent research reports. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Barclays raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday. Scotiabank lifted their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Bank of America lifted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Performance

Shares of ES stock traded down $0.75 during trading hours on Thursday, reaching $65.00. The stock had a trading volume of 1,624,297 shares, compared to its average volume of 2,424,776. 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 twelve month low of $52.03 and a twelve month high of $69.01. The firm has a 50-day simple moving average of $66.42 and a 200-day simple moving average of $62.18. The firm has a market capitalization of $22.90 billion, a PE ratio of -55.08, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.40%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the firm’s 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 directly owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ES. ClearBridge Investments Ltd acquired a new position in Eversource Energy in the first quarter worth approximately $156,093,000. Zimmer Partners LP increased its position in shares of Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after purchasing an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares during the period. M&G Plc acquired a new position in shares of Eversource Energy in the 1st quarter valued at $83,539,000. Finally, BROOKFIELD Corp ON acquired a new stake in shares of Eversource Energy during the 1st quarter valued at about $65,389,000. Institutional investors own 79.99% of the company’s stock.

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.