Eversource Energy (NYSE:ES) Short Interest Update

Eversource Energy (NYSE:ES) saw 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 trading volume of 2,080,000 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ES. Scotiabank reduced their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley reduced their price target on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Barclays increased their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Wells Fargo & Company increased their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.43.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,015 shares of company stock valued at $806,478. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Eversource Energy

A number of large investors have recently made changes to their positions in the stock. ClearBridge Investments Ltd bought a new position in Eversource Energy in the first quarter worth approximately $156,093,000. Norges Bank bought a new stake in shares of Eversource Energy in the fourth quarter valued at about $149,906,000. Zimmer Partners LP lifted its stake in Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Eversource Energy by 65.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the period. Finally, M&G Plc bought a new stake in shares of Eversource Energy in the 1st quarter valued at about $83,539,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

NYSE ES opened at $65.11 on Monday. The business’s 50 day moving average price is $60.92 and its 200-day moving average price is $59.54. The company has a market cap of $22.94 billion, a P/E ratio of -55.18, a P/E/G ratio of 2.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $68.72.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Sell-side analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

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.