Eversource Energy (NYSE:ES) Short Interest Update

Eversource Energy (NYSE:ES) saw a significant 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 daily volume of 2,880,000 shares, the days-to-cover ratio is presently 1.8 days.

Insider Activity

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy 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 approximately $1,245,369.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Eversource Energy during the fourth quarter worth $149,906,000. Morgan Stanley grew its position in shares of Eversource Energy by 19.3% during the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock worth $259,595,000 after buying an additional 723,318 shares during the period. American Century Companies Inc. increased its stake in shares of Eversource Energy by 23.7% in the 3rd quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock valued at $213,005,000 after acquiring an additional 702,360 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Eversource Energy by 1,551.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 708,437 shares of the utilities provider’s stock valued at $41,196,000 after acquiring an additional 665,540 shares during the period. Finally, Clean Energy Transition LLP bought a new position in Eversource Energy during the 4th quarter worth approximately $40,181,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $60.46 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The firm has a 50 day simple moving average of $58.97 and a 200 day simple moving average of $57.99. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $78.64. The firm has a market cap of $21.20 billion, a P/E ratio of -47.98, a P/E/G ratio of 3.16 and a beta of 0.58.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. During the same period last year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. Sell-side analysts predict that Eversource Energy will post 4.51 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 dividend on an annualized basis and a yield of 4.73%. Eversource Energy’s dividend payout ratio is presently -226.98%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ES. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $54.00 to $62.00 in a report on Thursday, February 15th. Citigroup boosted their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Barclays reduced their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, January 22nd. The Goldman Sachs Group assumed coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price on the stock. Finally, StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.85.

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.