Short Interest in Eversource Energy (NYSE:ES) Decreases By 5.6%

Eversource Energy (NYSE:ES) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 4,030,000 shares, a decrease of 5.6% from the July 31st total of 4,270,000 shares. Based on an average daily volume of 2,180,000 shares, the short-interest ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ES shares. Scotiabank increased their price target 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. Barclays boosted their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Bank of America increased their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday. BMO Capital Markets reduced their target price on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, August 19th. Finally, StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.93.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $67.53 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The company has a market cap of $24.13 billion, a PE ratio of -57.23, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59. The firm has a fifty day moving average price of $62.59 and a two-hundred day moving average price of $60.38. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $68.72.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company earned $1.00 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Insider Transactions at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ES. Charles Schwab Investment Management Inc. increased its holdings in Eversource Energy by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock valued at $448,567,000 after buying an additional 353,171 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares during the period. Public Sector Pension Investment Board lifted its stake in Eversource Energy by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after purchasing an additional 20,207 shares during the period. Bank of New York Mellon Corp boosted its holdings in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after purchasing an additional 354,429 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its stake in shares of Eversource Energy by 5.4% in the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock valued at $189,301,000 after purchasing an additional 156,534 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.