By otakuyassine3@gmail.com 
Eversource Energy (NYSE:ES – Get Free Report) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,820,000 shares, a growth of 13.1% from the November 30th total of 4,260,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the short-interest ratio is presently 2.3 days.
Analyst Upgrades and Downgrades
Several research firms recently commented on ES. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Barclays lifted their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their target price for the stock from $66.00 to $56.00 in a research report on Thursday, December 12th. Finally, Mizuho increased their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.38.
Read Our Latest Stock Analysis on Eversource Energy
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of ES. Landscape Capital Management L.L.C. lifted its stake in shares of Eversource Energy by 46.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after acquiring an additional 10,093 shares during the last quarter. Soltis Investment Advisors LLC bought a new stake in shares of Eversource Energy during the third quarter worth $3,616,000. Toronto Dominion Bank boosted its stake in shares of Eversource Energy by 23.2% during the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock valued at $7,636,000 after purchasing an additional 25,377 shares during the period. State Street Corp grew its holdings in shares of Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in Eversource Energy by 94.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 57,425 shares of the utilities provider’s stock worth $3,908,000 after buying an additional 27,817 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy Price Performance
ES stock traded up $0.13 during mid-day trading on Wednesday, hitting $57.43. The company had a trading volume of 1,635,477 shares, compared to its average volume of 2,362,313. The company has a 50-day moving average price of $61.35 and a 200 day moving average price of $63.00. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of -36.58, a P/E/G ratio of 2.38 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.
Eversource Energy (NYSE:ES – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the firm earned $0.97 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.
Eversource Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s dividend payout ratio is currently -182.17%.
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.
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