Eversource Energy (NYSE:ES) Short Interest Down 11.4% in March

Eversource Energy (NYSE:ESGet Free Report) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 5,210,000 shares, a drop of 11.4% from the February 29th total of 5,880,000 shares. Based on an average daily trading volume, of 3,090,000 shares, the days-to-cover ratio is currently 1.7 days.

Eversource Energy Trading Up 0.7 %

Shares of ES traded up $0.40 during midday trading on Tuesday, hitting $59.28. The stock had a trading volume of 1,839,476 shares, compared to its average volume of 3,209,206. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $81.36. The business has a 50-day simple moving average of $57.34 and a two-hundred day simple moving average of $57.99. The firm has a market cap of $20.79 billion, a P/E ratio of -47.04, a price-to-earnings-growth ratio of 3.15 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ESGet Free Report) last announced 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 positive return on equity of 9.92% and a negative net margin of 3.71%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Eversource Energy will post 4.55 EPS for the current year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.82%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently -226.98%.

Insider Transactions at Eversource Energy

In related news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,250 shares of company stock worth $352,014. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ES. American National Bank acquired a new stake in shares of Eversource Energy during the third quarter worth approximately $25,000. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $25,000. Quarry LP boosted its holdings in shares of Eversource Energy by 275.0% during the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 231 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $26,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $27,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on ES. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Citigroup raised their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Argus lowered their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Barclays lowered their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus target price of $65.08.

Get Our Latest Research Report on ES

Eversource Energy Company Profile

(Get Free Report)

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.

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