Short Interest in Eversource Energy (NYSE:ES) Increases By 24.8%

Eversource Energy (NYSE:ES - Get Free Report) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 6,040,000 shares, an increase of 24.8% from the January 31st total of 4,840,000 shares. Based on an average trading volume of 2,680,000 shares, the days-to-cover ratio is presently 2.3 days.

Eversource Energy Stock Performance

Shares of ES traded up $2.26 during midday trading on Friday, reaching $60.97. 2,954,696 shares of the stock were exchanged, compared to its average volume of 2,207,165. The business's 50-day moving average price is $59.09 and its 200 day moving average price is $62.26. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company has a market capitalization of $22.36 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. On average, sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

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Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.94%. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio is presently 130.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ES shares. Barclays cut their target price on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. StockNews.com cut Eversource Energy from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. 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 note on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Wells Fargo & Company dropped their price objective on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. 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 stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of "Hold" and an average target price of $67.45.

Insider Activity

In related news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares of the company's stock, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after buying an additional 1,387,072 shares during the last quarter. State Street Corp lifted its position in shares of Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider's stock worth $1,737,990,000 after purchasing an additional 430,587 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after purchasing an additional 4,585,232 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Eversource Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider's stock worth $570,500,000 after purchasing an additional 226,972 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Eversource Energy by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock worth $547,550,000 after acquiring an additional 517,042 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

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.