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

Eversource Energy (NYSE:ES) was the target of 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 currently 2.0 days.

Eversource Energy Stock Performance

ES opened at $67.75 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $66.50 and its 200-day moving average is $61.72. The stock has a market cap of $23.87 billion, a PE ratio of -57.42, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting 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 firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts predict that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 dividend on an annualized basis and a yield of 4.22%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ES. Scotiabank upped their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. BMO Capital Markets reduced their target price on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, August 19th. Barclays boosted their price target on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company boosted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.93.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated 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 approximately $591,596. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 of the company’s stock, valued at $639,464.18. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

Several large investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. increased its position in shares of Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 181 shares during the period. Addison Advisors LLC grew its holdings in Eversource Energy by 27.4% during the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 185 shares during the period. Bar Harbor Wealth Management raised its position in Eversource Energy by 4.1% in the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 190 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in Eversource Energy by 2.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after acquiring an additional 192 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds 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.