After Reaching Milestone, Is Eversource Energy (NYSE:ES)'s Short Interest Revealing Something?

Claudine Rigal
Juillet 17, 2017

Several other hedge funds have also recently bought and sold shares of ES. With 1.41 million avg volume, 4 days are for Eversource Energy (NYSE:ES)'s short sellers to cover ES's short positions. The short interest to Eversource Energy's float is 1.58%. 656,022 shares of the company traded hands. AMF Pensionsforsakring AB increased its stake in Eversource Energy by 39.4% in the fourth quarter. National Pension Service now owns 281,316 shares of the utilities provider's stock valued at $16,491,000 after buying an additional 13,452 shares during the period. Wellington Management Group LLP increased its position in Eversource Energy by 3.8% in the first quarter. Wellington Management Group LLP now owns 12,852,374 shares of the utilities provider's stock worth $755,462,000 after buying an additional 464,555 shares during the period.

Capital Investment Advisors Llc increased Citigroup Inc (C) stake by 25.25% reported in 2016Q4 SEC filing. Thomaspartners Inc. now owns 3,947,433 shares of the utilities provider's stock worth $232,030,000 after buying an additional 339,289 shares during the period. Institutional investors and hedge funds own 71.03% of the company's stock.

Shares of Eversource Energy (NYSE ES) traded up 0.53% on Friday, hitting $60.22. The company has a market cap of $18.94 billion, a price-to-earnings ratio of 19.86 and a beta of 0.29. Eversource Energy has $6600 highest and $50.85 lowest target. The stock has a 50 day moving average price of $61.66 and a 200 day moving average price of $58.39.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, May 4th. Eversource Energy's Wall Street analysts see -17.07 % negative EPS growth, taking into account the $0.82 EPS reproted in the previous quarter, The stock decreased 0.15% or $0.09 during the last trading session, reaching $59.82. Eversource Energy (NYSE:ES) has risen 8.72% since July 11, 2016 and is uptrending. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.12 billion. On average, equities research analysts predict that Eversource Energy will post $3.14 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st were given a dividend of $0.475 per share. The ex-dividend date was Friday, May 26th. This represents a $1.90 dividend on an annualized basis and a yield of 3.16%. Eversource Energy's dividend payout ratio is now 63.12%.

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A number of research firms have recently weighed in on ES. Finally, Barclays PLC reiterated an "equal weight" rating and issued a $66.00 price target (up from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Zacks Investment Research upgraded shares of Eversource Energy from a "hold" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Wednesday, June 21st. BMO Capital Markets raised their price target on shares of Eversource Energy from $57.00 to $61.00 and gave the stock a "market perform" rating in a research report on Monday, May 15th. Credit Suisse Group restated a "hold" rating and set a $59.00 target price on shares of Eversource Energy in a research report on Tuesday, June 6th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock.

In related news, VP Werner J. Schweiger sold 36,736 shares of the business's stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $61.01, for a total transaction of $2,961,669.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Eversource Energy, launched on January 15, 1927, is a utility holding company. The Firm operates through three divisions: electric distribution, electric transmission and natural gas distribution. The Company's electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in CT, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

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