Eversource Energy (NYSE:ES) Short Interest Update


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Eversource Energy (NYSE:ES) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 4,790,000 shares, a growth of 21.3% from the March 31st total of 3,950,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is presently 3.4 days.

Shares of ES stock traded down $0.30 during trading hours on Tuesday, hitting $86.12. 38,078 shares of the company’s stock were exchanged, compared to its average volume of 1,518,838. The company has a market capitalization of $29.57 billion, a PE ratio of 24.48, a PEG ratio of 3.57 and a beta of 0.28. Eversource Energy has a 12-month low of $73.61 and a 12-month high of $96.66. The business’s 50 day simple moving average is $86.27 and its 200-day simple moving average is $86.82. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 16th. The utilities provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Eversource Energy had a net margin of 13.57% and a return on equity of 8.88%. Equities analysts anticipate that Eversource Energy will post 3.64 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Thursday, March 4th were paid a $0.6025 dividend. This represents a $2.41 annualized dividend and a dividend yield of 2.80%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, March 3rd. Eversource Energy’s payout ratio is presently 69.86%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Concord Wealth Partners purchased a new position in shares of Eversource Energy in the fourth quarter worth $25,000. Regent Peak Wealth Advisors LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth $31,000. Birchcreek Wealth Management LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth $32,000. Horan Securities Inc. purchased a new position in shares of Eversource Energy in the fourth quarter worth $32,000. Finally, ELM Advisors LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth $35,000. 76.79% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on the stock. Williams Capital restated a “buy” rating on shares of Eversource Energy in a report on Friday, April 23rd. KeyCorp restated a “sector weight” rating on shares of Eversource Energy in a report on Tuesday, April 27th. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, February 25th. Mizuho assumed coverage on shares of Eversource Energy in a research note on Wednesday, April 14th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, Credit Suisse Group raised their price objective on shares of Eversource Energy from $81.00 to $89.00 and gave the company an “underperform” rating in a research report on Monday, April 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Eversource Energy presently has a consensus rating of “Hold” and an average price target of $91.08.

About Eversource Energy

Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Water Distribution and Natural Gas Distribution. The Electric Distribution segment distributes electricity to retail customers.

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