Traders Buy High Volume of Eversource Energy Call Options (ES)
Eversource Energy (NYSE:ES) was the target of some unusual options trading on Thursday. Stock investors purchased 1,403 call options on the stock. This is an increase of approximately 1,153% compared to the average volume of 112 call options.
Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on Eversource Energy from $69.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 12th. Scotiabank downgraded Eversource Energy from a “sector perform” rating to an “underperform” rating in a report on Wednesday, December 12th. Goldman Sachs Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, January 30th. Credit Suisse Group upgraded Eversource Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $62.00 to $73.00 in a report on Tuesday, December 4th. Finally, Guggenheim downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Eversource Energy has a consensus rating of “Hold” and a consensus price target of $69.18.
NYSE:ES opened at $70.92 on Friday. The company has a market cap of $22.39 billion, a P/E ratio of 21.62, a PEG ratio of 3.59 and a beta of 0.31. The company has a quick ratio of 0.50, a current ratio of 0.56 and a debt-to-equity ratio of 1.07. Eversource Energy has a 1-year low of $52.76 and a 1-year high of $71.27.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th will be paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Monday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.51. Eversource Energy’s dividend payout ratio (DPR) is 65.24%.
In other Eversource Energy news, EVP Christine M. Carmody sold 15,000 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $70.06, for a total value of $1,050,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Faasen William C. Van sold 2,501 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $70.00, for a total value of $175,070.00. The disclosure for this sale can be found here. Insiders have sold 111,201 shares of company stock worth $7,727,360 in the last ninety days. 0.45% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of ES. Magellan Asset Management Ltd increased its stake in shares of Eversource Energy by 14.3% in the 4th quarter. Magellan Asset Management Ltd now owns 2,831,554 shares of the utilities provider’s stock valued at $184,164,000 after purchasing an additional 354,280 shares during the last quarter. MUFG Securities EMEA plc increased its stake in shares of Eversource Energy by 947.6% in the 4th quarter. MUFG Securities EMEA plc now owns 90,000 shares of the utilities provider’s stock valued at $5,854,000 after purchasing an additional 81,409 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Eversource Energy by 35.7% in the 4th quarter. American Century Companies Inc. now owns 4,563,601 shares of the utilities provider’s stock valued at $296,817,000 after purchasing an additional 1,200,309 shares during the last quarter. Sowell Financial Services LLC increased its stake in shares of Eversource Energy by 16.4% in the 4th quarter. Sowell Financial Services LLC now owns 4,081 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 574 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Eversource Energy in the 4th quarter valued at $166,695,000. Hedge funds and other institutional investors own 73.38% of the company’s stock.
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About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
Further Reading: What is Call Option Volume?
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