Eversource Energy (NYSE:ES) Short Interest Update

Eversource Energy (NYSE:ES) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 5,220,000 shares, an increase of 10.1% from the March 31st total of 4,740,000 shares. Based on an average trading volume of 2,880,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ES. Barclays cut their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. Argus cut their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Scotiabank cut their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group began coverage on Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price for the company. Finally, Citigroup upped their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $65.85.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $61.60 on Thursday. The business’s fifty day moving average price is $59.09 and its two-hundred day moving average price is $58.05. The stock has a market cap of $21.60 billion, a PE ratio of -48.89, a price-to-earnings-growth ratio of 3.22 and a beta of 0.58. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. Eversource Energy has a one year low of $52.03 and a one year high of $77.97.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. Eversource Energy’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. On average, analysts forecast that Eversource Energy will post 4.51 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.64%. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eversource Energy

Hedge funds have recently made changes to their positions in the business. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy during the fourth quarter worth $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth $26,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy during the first quarter worth $27,000. Bfsg LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth $31,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Eversource Energy by 62.6% during the first 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.