Eversource Energy (NYSE:ES) Short Interest Down 7.9% in October

Eversource Energy (NYSE:ES) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,100,000 shares, a drop of 7.9% from the October 15th total of 4,450,000 shares. Based on an average daily trading volume, of 2,110,000 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board grew its holdings in Eversource Energy by 6.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock valued at $38,631,000 after buying an additional 37,219 shares during the last quarter. Bensler LLC acquired a new position in shares of Eversource Energy during the second quarter worth approximately $316,000. M&G Plc boosted its position in shares of Eversource Energy by 16.8% in the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after acquiring an additional 234,361 shares during the period. Virtu Financial LLC acquired a new stake in shares of Eversource Energy in the first quarter worth $1,280,000. Finally, California State Teachers Retirement System increased its position in Eversource Energy by 10.0% during the first quarter. California State Teachers Retirement System now owns 847,789 shares of the utilities provider’s stock worth $50,672,000 after acquiring an additional 77,184 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ES has been the subject of several research analyst reports. Mizuho increased their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted 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 report on Friday, August 23rd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Scotiabank boosted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.46.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $62.07 on Tuesday. The business’s 50-day simple moving average is $65.12 and its 200-day simple moving average is $62.88. 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 has a 52 week low of $52.09 and a 52 week high of $69.01. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of -39.54, a P/E/G ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. As a group, equities research analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -182.17%.

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.