Eversource Energy (NYSE:ES) Short Interest Up 24.8% in February

Eversource Energy (NYSE:ES) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 6,040,000 shares, a growth of 24.8% from the January 31st total of 4,840,000 shares. Based on an average daily trading volume, of 2,680,000 shares, the days-to-cover ratio is presently 2.3 days.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. increased its stake in Eversource Energy by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock worth $418,000 after buying an additional 166 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Eversource Energy by 10.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. raised its stake in shares of Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 197 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Eversource Energy by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after acquiring an additional 216 shares in the last quarter. Finally, Ascent Group LLC raised its holdings in shares of Eversource Energy by 1.2% in the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider’s stock valued at $1,129,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 3.8 %

Shares of Eversource Energy stock traded up $2.23 during trading on Friday, reaching $60.94. The company’s stock had a trading volume of 813,706 shares, compared to its average volume of 2,198,984. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 2.35 and a beta of 0.60. The firm’s 50-day moving average is $59.02 and its two-hundred day moving average is $62.32. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.94%. 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 dividend payout ratio (DPR) is 130.30%.

Wall Street Analyst Weigh In

ES has been the topic of a number of research analyst reports. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Scotiabank lowered 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 report on Thursday, February 13th. Jefferies Financial Group lowered their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Barclays decreased their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.