Short Interest in Eversource Energy (NYSE:ES) Declines By 7.9%

Eversource Energy (NYSE:ES) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,100,000 shares, a drop of 7.9% from the October 15th total of 4,450,000 shares. Based on an average trading volume of 2,110,000 shares, the days-to-cover ratio is presently 1.9 days.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $61.85 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The business’s 50 day moving average price is $65.24 and its 200 day moving average price is $62.87. The company has a market cap of $22.66 billion, a price-to-earnings ratio of -39.39, a PEG ratio of 2.47 and a beta of 0.61. Eversource Energy has a one year low of $52.09 and a one year high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.62%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Institutional Trading of Eversource Energy

Several institutional investors have recently made changes to their positions in the company. Avantax Advisory Services Inc. increased its stake in Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 192 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Eversource Energy during the 1st quarter worth about $2,191,000. Ameritas Investment Partners Inc. increased its position in shares of Eversource Energy by 45.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 20,905 shares of the utilities provider’s stock worth $1,249,000 after purchasing an additional 6,490 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Eversource Energy by 74.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,181 shares of the utilities provider’s stock valued at $1,923,000 after buying an additional 13,685 shares during the period. Finally, UniSuper Management Pty Ltd boosted its stake in Eversource Energy by 444.4% during the first quarter. UniSuper Management Pty Ltd now owns 19,676 shares of the utilities provider’s stock worth $1,176,000 after buying an additional 16,062 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Mizuho upped their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Barclays increased their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Scotiabank lifted their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.46.

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.