Eversource Energy (NYSE:ES) Short Interest Down 6.2% in July

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

Eversource Energy Trading Up 0.2 %

ES stock opened at $66.00 on Wednesday. Eversource Energy has a one year low of $52.03 and a one year high of $68.72. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of -55.93, a price-to-earnings-growth ratio of 2.53 and a beta of 0.59. The company has a fifty day moving average price of $61.19 and a two-hundred day moving average price of $59.69. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. Eversource Energy’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 EPS. Equities analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Insiders Place Their Bets

In related news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at $603,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,015 shares of company stock worth $806,478. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

A number of large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Eversource Energy by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock valued at $448,567,000 after buying an additional 353,171 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of 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 valued at $227,929,000 after acquiring an additional 1,524,341 shares in the last quarter. Public Sector Pension Investment Board increased its position in Eversource Energy by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after acquiring an additional 20,207 shares during the period. Bank of New York Mellon Corp increased its position in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after acquiring an additional 354,429 shares during the period. Finally, Magellan Asset Management Ltd raised its stake in Eversource Energy by 5.4% in the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock worth $189,301,000 after purchasing an additional 156,534 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ES. Scotiabank increased their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays lifted their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Finally, Morgan Stanley lowered their price target on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.86.

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.