Short Interest in Eversource Energy (NYSE:ES) Grows By 10.2%

Eversource Energy (NYSE:ES) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 5,310,000 shares, an increase of 10.2% from the December 15th total of 4,820,000 shares. Based on an average trading volume of 2,110,000 shares, the days-to-cover ratio is presently 2.5 days.

Eversource Energy Stock Performance

ES stock traded down $0.21 during midday trading on Monday, reaching $57.91. 2,137,868 shares of the company’s stock traded hands, compared to its average volume of 1,805,250. The firm has a market capitalization of $21.22 billion, a PE ratio of -36.88, a price-to-earnings-growth ratio of 2.13 and a beta of 0.62. The company has a 50-day moving average price of $59.43 and a two-hundred day moving average price of $62.95. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS. As a group, equities analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were paid a dividend of $0.715 per share. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 4.94%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently bought and sold shares of ES. Brooklyn Investment Group bought a new stake in shares of Eversource Energy during the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new stake in Eversource Energy in the third quarter valued at approximately $32,000. UMB Bank n.a. lifted its position in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Larson Financial Group LLC grew its stake in Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in shares of Eversource Energy in the 3rd quarter worth $48,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ES. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Mizuho increased their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. BMO Capital Markets cut their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Eversource Energy in a research note on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price objective for the company. Finally, Barclays lifted their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.38.

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.