Eversource Energy (NYSE:ES) Short Interest Down 5.8% in January

Eversource Energy (NYSE:ES) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,840,000 shares, a drop of 5.8% from the January 15th total of 5,140,000 shares. Based on an average daily trading volume, of 2,480,000 shares, the days-to-cover ratio is presently 2.0 days.

Eversource Energy Trading Up 1.9 %

Shares of ES stock opened at $62.68 on Thursday. Eversource Energy has a 1 year low of $54.75 and a 1 year 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 stock’s 50 day simple moving average is $58.04 and its two-hundred day simple moving average is $62.55. The company has a market cap of $22.97 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 11.04% and a net margin of 6.82%. Research analysts predict that Eversource Energy will post 4.76 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.80%. Eversource Energy’s dividend payout ratio is currently 123.81%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its stake in Eversource Energy by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 166 shares in the last quarter. Exchange Traded Concepts LLC grew 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 in the last quarter. UMB Bank n.a. lifted its holdings in Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after buying an additional 197 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Eversource Energy by 1.0% during the third quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,368,000 after buying an additional 200 shares during the period. Finally, Signaturefd LLC lifted its holdings in Eversource Energy by 1.8% during the third quarter. Signaturefd LLC now owns 11,930 shares of the utilities provider’s stock worth $812,000 after buying an additional 206 shares during the period. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ES. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Barclays lowered their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Scotiabank cut their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lowered their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy 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.