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

Eversource Energy (NYSE:ES) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 4,370,000 shares, an increase of 6.6% from the October 31st total of 4,100,000 shares. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ES shares. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Scotiabank lifted their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group initiated coverage on shares of Eversource Energy in a research note on Tuesday. They issued an “underperform” rating and a $52.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.15.

Eversource Energy Stock Performance

Shares of ES stock opened at $61.29 on Wednesday. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The firm has a market capitalization of $22.46 billion, a P/E ratio of -39.04, a P/E/G ratio of 2.55 and a beta of 0.60. The company’s fifty day moving average price is $64.17 and its two-hundred day moving average price is $63.05.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio is presently -182.17%.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. grew its position in shares of Eversource Energy by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after buying an additional 166 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Eversource Energy by 14.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 169 shares during the last quarter. Addison Advisors LLC grew its position in Eversource Energy by 27.4% in the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 185 shares during the last quarter. Bar Harbor Wealth Management grew its position in Eversource Energy by 4.1% in the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 190 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

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.