Eversource Energy (NYSE:ES) Short Interest Down 11.4% in March

Eversource Energy (NYSE:ESGet Free Report) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 5,210,000 shares, a decrease of 11.4% from the February 29th total of 5,880,000 shares. Based on an average daily trading volume, of 3,090,000 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling

In related news, insider Faasen William C. Van sold 2,714 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $54.50, for a total transaction of $147,913.00. Following the transaction, the insider now owns 19,619 shares in the company, valued at approximately $1,069,235.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Faasen William C. Van sold 2,714 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $54.50, for a total value of $147,913.00. Following the completion of the sale, the insider now directly owns 19,619 shares of the company’s stock, valued at $1,069,235.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,250 shares of company stock worth $352,014 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Eversource Energy by 10.8% in the 3rd quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider’s stock valued at $26,168,000 after buying an additional 43,720 shares during the last quarter. OLD Republic International Corp acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $27,283,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Eversource Energy by 9.8% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,724,235 shares of the utilities provider’s stock valued at $193,203,000 after buying an additional 242,898 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Eversource Energy by 11.2% in the 3rd quarter. Natixis Advisors L.P. now owns 172,017 shares of the utilities provider’s stock valued at $10,003,000 after buying an additional 17,345 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Eversource Energy by 19.3% in the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after buying an additional 723,318 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.7 %

NYSE:ES traded up $0.40 during trading hours on Tuesday, reaching $59.28. 1,839,476 shares of the stock were exchanged, compared to its average volume of 3,209,206. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $81.36. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The firm has a 50 day moving average of $57.34 and a 200 day moving average of $57.99. The stock has a market cap of $20.79 billion, a PE ratio of -47.04, a PEG ratio of 3.15 and a beta of 0.58.

Eversource Energy (NYSE:ESGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the company earned $0.92 EPS. The company’s revenue was down 11.1% compared to the same quarter last year. On average, equities analysts expect that Eversource Energy will post 4.55 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Monday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio is presently -226.98%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ES. Wells Fargo & Company upped their price target on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. BMO Capital Markets upped their price target on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. StockNews.com raised Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Barclays lowered their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. Finally, Argus lowered their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.08.

Check Out Our Latest Analysis on Eversource Energy

About Eversource Energy

(Get Free Report)

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.

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