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

Eversource Energy (NYSE:ES) was the target of a large increase in short interest in 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 volume of 2,110,000 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of Eversource Energy

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

Eversource Energy Stock Performance

ES traded down $0.21 on Monday, reaching $57.91. The stock had a trading volume of 2,137,868 shares, compared to its average volume of 1,805,250. The business’s 50-day moving average price is $59.43 and its two-hundred day moving average price is $62.95. 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 12-month low of $52.09 and a 12-month high of $69.01. The company has a market cap of $21.22 billion, a P/E ratio of -36.88, a price-to-earnings-growth ratio of 2.13 and a beta of 0.62.

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

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s payout ratio is -182.17%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ES shares. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Mizuho lifted their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group began coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target for the company. BMO Capital Markets cut their price objective 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. Finally, Barclays upped their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $68.38.

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.