Eversource Energy (NYSE:ES) Short Interest Down 5.8% in January

Eversource Energy (NYSE:ES - Get Free Report) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 4,840,000 shares, a decline of 5.8% from the January 15th total of 5,140,000 shares. Based on an average daily trading volume, of 2,480,000 shares, the short-interest ratio is presently 2.0 days.

Eversource Energy Price Performance

ES stock traded up $0.03 during mid-day trading on Friday, hitting $63.41. The company had a trading volume of 3,830,695 shares, compared to its average volume of 3,167,062. The company has a market capitalization of $23.26 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 2.33 and a beta of 0.62. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a 50-day moving average price of $58.19 and a 200 day moving average price of $62.54.

Eversource Energy (NYSE:ES - Get Free Report) last announced its 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 net margin of 6.82% and a return on equity of 10.99%. On average, research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a $0.7525 dividend. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Tuesday, March 4th. Eversource Energy's dividend payout ratio is 123.81%.

Analysts Set New Price Targets

Several research analysts recently weighed in on ES shares. Barclays dropped their target price on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Jefferies Financial Group dropped their target price on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a report on Tuesday, January 28th. Finally, Scotiabank dropped their target price on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $67.45.

Insider Buying and Selling at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.41% of the company's stock.

Institutional Trading of Eversource Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Eversource Energy in the 3rd quarter worth about $808,783,000. Norges Bank bought a new position in Eversource Energy in the 4th quarter worth about $188,838,000. Amundi grew its stake in Eversource Energy by 32.2% in the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock worth $367,691,000 after acquiring an additional 1,579,818 shares in the last quarter. Vanguard Group Inc. grew its stake in Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after acquiring an additional 1,387,072 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its stake in Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock worth $371,829,000 after acquiring an additional 890,514 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

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.