Short Interest in Eversource Energy (NYSE:ES) Expands By 10.2%

Eversource Energy (NYSE:ES) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,310,000 shares, an increase of 10.2% from the December 15th total of 4,820,000 shares. Based on an average daily trading volume, of 2,110,000 shares, the short-interest ratio is presently 2.5 days.

Eversource Energy Price Performance

Eversource Energy stock traded down $0.21 during mid-day trading on Monday, hitting $57.91. The company’s stock had a trading volume of 2,137,868 shares, compared to its average volume of 1,805,250. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $21.22 billion, a P/E ratio of -36.88, a P/E/G ratio of 2.13 and a beta of 0.62. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The stock’s fifty day moving average price is $59.43 and its two-hundred day moving average price is $62.95.

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

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were given a $0.715 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 4.94%. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ES shares. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Scotiabank cut Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price target for the company from $66.00 to $56.00 in a report on Thursday, December 12th. BMO Capital Markets cut their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Finally, Jefferies Financial Group initiated coverage on Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.38.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ES. Brooklyn Investment Group purchased a new position in shares of Eversource Energy during the 3rd quarter valued at $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Eversource Energy during the 3rd quarter valued at $32,000. UMB Bank n.a. grew its holdings in shares of Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at $48,000. Institutional investors and hedge funds 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.