Short Interest in Eversource Energy (NYSE:ES) Declines By 7.9%

Eversource Energy (NYSE:ES - Get Free Report) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,100,000 shares, a drop of 7.9% from the October 15th total of 4,450,000 shares. Based on an average daily volume of 2,110,000 shares, the days-to-cover ratio is currently 1.9 days.

Eversource Energy Price Performance

NYSE:ES traded up $0.22 during mid-day trading on Monday, reaching $62.07. 1,683,860 shares of the company were exchanged, compared to its average volume of 2,397,714. The stock has a market cap of $22.74 billion, a PE ratio of -39.39, a PEG ratio of 2.47 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company has a fifty day moving average of $65.24 and a 200 day moving average of $62.87. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 earnings per share. On average, research analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.61%. Eversource Energy's dividend payout ratio is currently -182.17%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ES. Lynx Investment Advisory acquired a new position in shares of Eversource Energy during the 2nd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in Eversource Energy during the 3rd quarter valued at approximately $31,000. Ashton Thomas Securities LLC bought a new position in shares of Eversource Energy in the 3rd quarter worth about $32,000. UMB Bank n.a. lifted its position in shares of Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 198 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider's stock worth $38,000 after acquiring an additional 350 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ES has been the subject of a number of analyst reports. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Bank of America increased their target price on Eversource Energy from $67.00 to $68.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. BMO Capital Markets lowered their price target on Eversource Energy from $74.00 to $72.00 and set a "market perform" rating on the stock in a report on Tuesday, October 15th. Morgan Stanley upped their price target on Eversource Energy from $69.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $70.46.

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.