Eversource Energy (NYSE:ES) Short Interest Update

Eversource Energy (NYSE:ES) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 4,550,000 shares, an increase of 12.9% from the August 15th total of 4,030,000 shares. Based on an average daily trading volume, of 2,110,000 shares, the short-interest ratio is currently 2.2 days.

Eversource Energy Trading Up 0.7 %

Shares of Eversource Energy stock opened at $67.97 on Monday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The stock has a market cap of $24.29 billion, a P/E ratio of -57.60, a P/E/G ratio of 2.59 and a beta of 0.61. The stock’s 50 day simple moving average is $64.73 and its 200-day simple moving average is $61.03.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. Analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.21%. Eversource Energy’s dividend payout ratio is currently -242.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Morgan Stanley increased their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Bank of America boosted their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays lifted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.93.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the business’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 disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ClearBridge Investments Ltd acquired a new position in Eversource Energy during the 1st quarter worth $156,093,000. Norges Bank acquired a new position in shares of Eversource Energy during the fourth quarter worth about $149,906,000. Zimmer Partners LP increased its stake in shares of Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after buying an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in 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. Finally, M&G Plc purchased a new position in Eversource Energy in the first quarter worth approximately $83,539,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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.