Eversource Energy (NYSE:ES) Sees Significant Increase in Short Interest

Eversource Energy (NYSE:ES) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 6,040,000 shares, an increase of 24.8% from the January 31st total of 4,840,000 shares. Based on an average daily volume of 2,680,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

Several analysts have recently commented on ES shares. Scotiabank reduced their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Jefferies Financial Group reduced their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays reduced their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.45.

Eversource Energy Trading Up 3.8 %

ES stock traded up $2.22 during midday trading on Friday, reaching $60.93. 813,706 shares of the company’s stock traded hands, compared to its average volume of 2,198,984. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The business has a 50-day moving average price of $59.02 and a two-hundred day moving average price of $62.32. The company has a market capitalization of $22.35 billion, a P/E ratio of 26.35, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.94%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Insider Buying and Selling

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % 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.

Hedge Funds Weigh In On Eversource Energy

Institutional investors have recently bought and sold shares of the business. Siemens Fonds Invest GmbH raised its position in Eversource Energy by 11.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 35,078 shares of the utilities provider’s stock valued at $2,010,000 after purchasing an additional 3,551 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Eversource Energy in the 4th quarter worth approximately $21,989,000. Great Valley Advisor Group Inc. raised its holdings in Eversource Energy by 8.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 78,400 shares of the utilities provider’s stock worth $4,502,000 after purchasing an additional 6,275 shares in the last quarter. Ascent Group LLC lifted its stake in Eversource Energy by 1.2% during the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider’s stock valued at $1,129,000 after purchasing an additional 230 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth approximately $199,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.