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.
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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