Short Interest in Eversource Energy (NYSE:ES) Drops By 7.9%

Eversource Energy (NYSE:ES) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 4,100,000 shares, a decrease of 7.9% from the October 15th total of 4,450,000 shares. Based on an average daily volume of 2,110,000 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analyst Weigh In

ES has been the topic of a number of research analyst reports. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Mizuho lifted their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. BMO Capital Markets lowered their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Barclays raised their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley boosted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $70.46.

Institutional Investors Weigh In On Eversource Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its position in Eversource Energy by 6.1% in the first quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock worth $38,631,000 after buying an additional 37,219 shares during the last quarter. Bensler LLC acquired a new stake in shares of Eversource Energy during the second quarter worth $316,000. M&G Plc lifted its holdings in shares of Eversource Energy by 16.8% during the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after purchasing an additional 234,361 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Eversource Energy in the 1st quarter valued at $1,280,000. Finally, California State Teachers Retirement System raised its holdings in Eversource Energy by 10.0% during the 1st quarter. California State Teachers Retirement System now owns 847,789 shares of the utilities provider’s stock worth $50,672,000 after buying an additional 77,184 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $62.07 on Tuesday. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The company has a market cap of $22.74 billion, a PE ratio of -39.54, a P/E/G ratio of 2.47 and a beta of 0.61. The stock has a 50 day simple moving average of $65.12 and a 200-day simple moving average of $62.88.

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

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

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.