Eversource Energy (NYSE:ES) Short Interest Up 13.1% in December

Eversource Energy (NYSE:ES) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 4,820,000 shares, a growth of 13.1% from the November 30th total of 4,260,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the days-to-cover ratio is currently 2.3 days.

Eversource Energy Stock Up 0.2 %

Shares of ES stock traded up $0.13 on Wednesday, reaching $57.43. 1,635,477 shares of the stock were exchanged, compared to its average volume of 2,362,313. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of -36.58, a PEG ratio of 2.38 and a beta of 0.60. The business’s 50 day moving average price is $61.16 and its 200 day moving average price is $62.96. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES) last released its quarterly earnings data 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. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the firm posted $0.97 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were paid a $0.715 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 4.98%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Institutional Trading of Eversource Energy

Several institutional investors have recently modified their holdings of ES. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new position in Eversource Energy during the third quarter worth approximately $32,000. UMB Bank n.a. increased its position in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares during the period. Larson Financial Group LLC lifted its stake in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after buying an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Eversource Energy in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ES shares. Scotiabank lowered Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $66.00 to $56.00 in a research note on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Mizuho lifted their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Jefferies Financial Group initiated coverage on shares of Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price on the stock. Finally, Barclays raised their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.38.

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.