Eversource Energy (NYSE:ES) Short Interest Update
by Sarita Garza · The Markets DailyEversource Energy (NYSE:ES – Get Free Report) saw a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 6,595,114 shares, a growth of 33.8% from the January 29th total of 4,930,185 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily volume of 2,998,575 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 2,998,575 shares, the short-interest ratio is presently 2.2 days. Approximately 1.8% of the shares of the stock are sold short.
Insider Buying and Selling at Eversource Energy
In related news, insider Cotton M. Cleveland sold 2,581 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $74.87, for a total value of $193,239.47. Following the sale, the insider owned 79,364 shares of the company’s stock, valued at approximately $5,941,982.68. This represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Y. Kim sold 6,000 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $73.57, for a total value of $441,420.00. Following the sale, the insider owned 12,339 shares in the company, valued at approximately $907,780.23. This trade represents a 32.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,381 shares of company stock worth $1,211,079. 0.19% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Eversource Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Eversource Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after purchasing an additional 697,829 shares during the last quarter. State Street Corp increased its position in Eversource Energy by 4.7% in the 4th quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock worth $1,886,119,000 after buying an additional 1,265,802 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Eversource Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock worth $646,233,000 after buying an additional 194,781 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Eversource Energy by 61.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after acquiring an additional 3,645,555 shares during the period. Finally, Magellan Asset Management Ltd boosted its position in shares of Eversource Energy by 6.5% in the third quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock valued at $526,919,000 after acquiring an additional 454,658 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy Trading Up 0.8%
Eversource Energy stock traded up $0.57 during midday trading on Wednesday, reaching $75.30. The stock had a trading volume of 2,336,313 shares, compared to its average volume of 2,644,715. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $76.41. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59. The firm has a market cap of $28.28 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 3.22 and a beta of 0.76. The firm’s fifty day simple moving average is $70.08 and its two-hundred day simple moving average is $69.19.
Eversource Energy (NYSE:ES – Get Free Report) last released its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.94 billion. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.
Eversource Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Thursday, March 5th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 dividend on an annualized basis and a yield of 4.2%. Eversource Energy’s payout ratio is presently 65.86%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ES. Mizuho boosted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. UBS Group reduced their price target on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Monday, November 24th. Scotiabank cut their price target on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Thursday, November 20th. Finally, BMO Capital Markets increased their target price on Eversource Energy from $75.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $73.90.
Check Out Our Latest Research Report on Eversource Energy
About Eversource Energy
Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.
Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.