Eversource Energy (NYSE:ES) Short Interest Down 5.8% in January

Eversource Energy (NYSE:ES) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 4,840,000 shares, a drop of 5.8% from the January 15th total of 5,140,000 shares. Based on an average trading volume of 2,480,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of Eversource Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Connecticut Wealth Management LLC increased its stake in shares of Eversource Energy by 10.4% in the fourth quarter. Connecticut Wealth Management LLC now owns 6,223 shares of the utilities provider’s stock worth $357,000 after buying an additional 588 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Eversource Energy in the fourth quarter worth $211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Eversource Energy by 11.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider’s stock worth $316,857,000 after buying an additional 561,055 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in Eversource Energy by 32.7% in the fourth quarter. Voloridge Investment Management LLC now owns 591,786 shares of the utilities provider’s stock worth $33,986,000 after purchasing an additional 145,883 shares during the period. Finally, Woodline Partners LP acquired a new position in Eversource Energy in the fourth quarter worth $1,264,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Down 0.3 %

ES opened at $61.36 on Wednesday. The firm has a market capitalization of $22.48 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.36 and a beta of 0.62. The firm’s 50 day moving average is $57.99 and its 200-day moving average is $62.55. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 11.04%. Analysts expect that Eversource Energy will post 4.76 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is 123.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Scotiabank decreased their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Barclays reduced their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $67.45.

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.