Eversource Energy (NYSE:ES) Short Interest Down 5.6% in August

Eversource Energy (NYSE:ES - Get Free Report) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 4,030,000 shares, a decline of 5.6% from the July 31st total of 4,270,000 shares. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets lowered their target price on shares of Eversource Energy from $73.00 to $70.00 and set a "market perform" rating on the stock in a research note on Monday, August 19th. Barclays lifted their target price on Eversource Energy from $65.00 to $69.00 and gave the stock an "equal weight" rating in a report on Monday, July 22nd. Scotiabank raised their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, August 23rd. Finally, Bank of America increased their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.93.

Insider Activity

In related news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company's stock, valued at approximately $639,464.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the 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 completion of the transaction, the executive vice president now owns 9,032 shares of the company's stock, valued at $591,596. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following 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. Corporate insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds have recently modified their holdings of ES. Salem Investment Counselors Inc. increased its position in Eversource Energy by 49.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider's stock worth $33,000 after purchasing an additional 181 shares during the last quarter. Addison Advisors LLC increased its holdings in Eversource Energy by 27.4% in the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider's stock worth $49,000 after buying an additional 185 shares during the last quarter. Bar Harbor Wealth Management raised its position in Eversource Energy by 4.1% during the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider's stock valued at $271,000 after acquiring an additional 190 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in Eversource Energy by 2.5% in the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider's stock valued at $475,000 after acquiring an additional 192 shares during the last quarter. Finally, Presima Securities ULC grew its position in Eversource Energy by 1.5% in the fourth quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider's stock worth $847,000 after acquiring an additional 200 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Up 1.3 %

NYSE ES traded up $0.87 during trading on Monday, reaching $67.53. 3,607,800 shares of the company's stock were exchanged, compared to its average volume of 2,512,577. The firm has a market capitalization of $24.13 billion, a PE ratio of -57.23, a P/E/G ratio of 2.58 and a beta of 0.59. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $68.72. 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 company's fifty day simple moving average is $62.59 and its 200-day simple moving average is $60.38.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts' consensus estimates of $0.95. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm's revenue was down 3.7% on a year-over-year basis. Sell-side analysts predict that Eversource Energy will post 4.56 EPS for the current year.

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.