Short Interest in Eversource Energy (NYSE:ES) Declines By 6.6%

Eversource Energy (NYSE:ES) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 4,250,000 shares, a decline of 6.6% from the August 31st total of 4,550,000 shares. Based on an average daily volume of 2,130,000 shares, the short-interest ratio is currently 2.0 days.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $67.52 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a 50 day simple moving average of $66.23 and a 200-day simple moving average of $61.59. The company has a market cap of $23.78 billion, a PE ratio of -57.22, a P/E/G ratio of 2.54 and a beta of 0.61. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01.

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, hitting analysts’ consensus estimates of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. On average, equities research analysts forecast that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be given a $0.715 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.24%. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Wall Street Analysts Forecast Growth

ES has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays upped their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets lowered 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus target price of $68.93.

Insider Activity

In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on 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 sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. The sale was disclosed in a document filed with the SEC, which is available 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 value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy 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 sale, 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. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its position in shares of Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. Addison Advisors LLC raised its stake in Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 185 shares during the period. Bar Harbor Wealth Management raised its stake in Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 190 shares during the period. Avantax Advisory Services Inc. raised its stake in Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 192 shares during the period. Finally, Versant Capital Management Inc raised its stake in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.