Eversource Energy (NYSE:ES) Short Interest Down 6.6% in September

Eversource Energy (NYSE:ES - Get Free Report) was the recipient 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 days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ES shares. Scotiabank upped their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. Barclays lifted their price target on Eversource Energy from $65.00 to $69.00 and gave the company an "equal weight" rating in a research note on Monday, July 22nd. StockNews.com downgraded Eversource Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 27th. Wells Fargo & Company raised their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. 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 research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $68.93.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $67.52 on Monday. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The business has a 50 day moving average price of $66.23 and a 200-day moving average price of $61.59. The company has a market cap of $23.78 billion, a PE ratio of -57.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction dated Tuesday, August 13th. The shares were 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 approximately $591,596. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Penelope M. Conner sold 500 shares of the company's 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 transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company's stock, valued at approximately $591,596. 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

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider's stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Eversource Energy by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider's stock valued at $191,979,000 after buying an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Eversource Energy by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider's stock worth $177,823,000 after buying an additional 354,429 shares during the period. Magellan Asset Management Ltd raised its holdings in Eversource Energy by 5.4% during the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider's stock valued at $189,301,000 after acquiring an additional 156,534 shares during the period. Finally, ClearBridge Investments Ltd bought a new position in shares of Eversource Energy in the first quarter worth $156,093,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

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.