Eversource Energy (NYSE:ES) Short Interest Update

Eversource Energy (NYSE:ES) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 4,550,000 shares, a drop of 7.5% from the June 30th total of 4,920,000 shares. Based on an average daily volume of 1,970,000 shares, the short-interest ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price target for the company in a research report on Tuesday, June 25th. BMO Capital Markets lifted their price objective on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Morgan Stanley cut their target price on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Scotiabank decreased their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group began coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.43.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares in the company, valued at approximately $3,586,009.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Institutional Trading of Eversource Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. raised its stake in shares of Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. Bar Harbor Wealth Management raised its position in Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after buying an additional 190 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Eversource Energy by 2.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 192 shares during the period. Presima Securities ULC raised its holdings in Eversource Energy by 1.5% during the fourth quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock worth $847,000 after purchasing an additional 200 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

Shares of Eversource Energy stock traded up $1.13 during trading on Thursday, reaching $66.04. The company’s stock had a trading volume of 2,578,130 shares, compared to its average volume of 2,540,126. The company has a 50-day moving average price of $59.38 and a two-hundred day moving average price of $58.64. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $70.49. The firm has a market cap of $23.26 billion, a PE ratio of -55.97, a P/E/G ratio of 2.53 and a beta of 0.59. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the business posted $1.00 earnings per share. Eversource Energy’s quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

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.