Eversource Energy (NYSE:ES) Short Interest Up 8.0% in September

Eversource Energy (NYSE:ES) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 4,590,000 shares, an increase of 8.0% from the September 15th total of 4,250,000 shares. Based on an average trading volume of 2,160,000 shares, the short-interest ratio is presently 2.1 days.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $65.00 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The firm has a market capitalization of $22.90 billion, a P/E ratio of -55.08, a P/E/G ratio of 2.47 and a beta of 0.61. The company’s fifty day moving average price is $66.42 and its 200 day moving average price is $62.19.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $2.90 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 in the company, valued at approximately $591,596. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated 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 directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ES. SageView Advisory Group LLC lifted its stake in shares of Eversource Energy by 9.4% in the 4th quarter. SageView Advisory Group LLC now owns 9,293 shares of the utilities provider’s stock worth $574,000 after acquiring an additional 801 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Eversource Energy by 15.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,375 shares of the utilities provider’s stock worth $270,000 after purchasing an additional 590 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in Eversource Energy in the 4th quarter valued at approximately $282,000. Nomura Holdings Inc. acquired a new position in Eversource Energy during the 4th quarter worth approximately $434,000. Finally, CWM LLC raised its stake in shares of Eversource Energy by 2.7% during the 1st quarter. CWM LLC now owns 30,082 shares of the utilities provider’s stock worth $1,798,000 after buying an additional 787 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ES has been the topic of a number of recent analyst reports. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Mizuho boosted their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Barclays raised their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, BMO Capital Markets decreased their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average price target of $70.07.

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.