Eversource Energy Can’t Burn Your Long Portfolio. Option Traders are Bullish

 Eversource Energy Can't Burn Your Long Portfolio. Option Traders are Bullish

In today’s session Eversource Energy (ES) registered an unusually high (1,988) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the April, 2017 call, expecting serious ES increase. With 1,988 contracts traded and 31544 open interest for the Apr, 17 contract, it seems this is a quite bullish bet. The option with symbol: ES170421C00060000 closed last at: $0.7 or 16.7% up. About 554,348 shares traded hands. Eversource Energy (NYSE:ES) has declined 3.12% since April 7, 2016 and is downtrending. It has underperformed by 7.90% the S&P500.

Eversource Energy (NYSE:ES) Ratings Coverage

Out of 7 analysts covering Eversource Energy (NYSE:ES), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $61 is the highest target while $50.85 is the lowest. The $55.88 average target is 4.86% above today’s ($53.29) stock price. Eversource Energy has been the topic of 13 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, January 14 by Mizuho. The firm has “Strong-Buy” rating by Vetr given on Wednesday, September 2. On Monday, February 8 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. The firm earned “Neutral” rating on Thursday, March 31 by Janney Capital. The stock of Eversource Energy (NYSE:ES) has “Neutral” rating given on Friday, August 7 by Mizuho. The stock has “Neutral” rating given by Macquarie Research on Monday, February 8. On Tuesday, August 25 the stock rating was upgraded by Vetr to “Hold”. The firm has “Buy” rating by Argus Research given on Wednesday, October 12. Argus Research maintained the stock with “Buy” rating in Tuesday, October 27 report. Citigroup initiated Eversource Energy (NYSE:ES) on Tuesday, December 1 with “Neutral” rating.

According to Zacks Investment Research, “Eversource Energy is engaged in transmission and distribution of electricity and natural gas. The company operates primarily in Connecticut, Massachusetts and New Hampshire. Eversource Energy, formerly known as Northeast Utilities, is based in Springfield, Massachusetts.”

Eversource Energy, formerly Northeast Utilities, is a utility holding firm engaged in the energy delivery business. The company has a market cap of $17.12 billion. The Firm operates through three divisions: electric distribution, electric transmission and natural gas distribution. It has a 18.97 P/E ratio. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail clients in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

ES Company Profile

Eversource Energy, formerly Northeast Utilities, incorporated on January 15, 1927, is a utility holding firm engaged in the energy delivery business. The Firm operates through three divisions: electric distribution, electric transmission and natural gas distribution. It operates through its utility subsidiaries, which include The Connecticut Light and Power Company (CL&P), an electric utility that serves residential, commercial and industrial clients in parts of Connecticut; NSTAR Electric Company (NSTAR Electric), an electric utility that serves residential, commercial and industrial clients in parts of eastern Massachusetts; Public Service Company of New Hampshire (PSNH), an electric utility that serves residential, commercial and industrial clients in parts of New Hampshire, and owns generation assets used to serve customers; Western Massachusetts Electric Company (WMECO), an electric utility that serves residential, commercial and industrial clients in parts of western Massachusetts, and owns solar generating assets; NSTAR Gas Company (NSTAR Gas), a natural gas utility that serves residential, commercial and industrial clients in parts of Massachusetts, and Yankee Gas Services Company (Yankee Gas), a natural gas utility that serves residential, commercial and industrial clients in parts of Connecticut. CL&P, NSTAR Electric, PSNH and WMECO also serve New England clients through the Company’s electric transmission business.

More notable recent Eversource Energy (NYSE:ES) news were published by: Patch.com which released: “Winter Energy Prices to Drop for Ledyard Residents: Eversource” on November 05, 2016, also Patch.com with their article: “Winter Energy Prices to Drop for Hartford Residents: Eversource” published on November 03, 2016, Patch.com published: “Winter Energy Prices to Drop for Stonington Residents: Eversource” on November 06, 2016. More interesting news about Eversource Energy (NYSE:ES) were released by: Patch.com and their article: “Winter Energy Prices to Drop for Wethersfield Residents: Eversource” published on November 03, 2016 as well as Nhregister.com‘s news article titled: “Eversource Energy expanding ‘self-healing’ grid effort in Connecticut” with publication date: October 15, 2016.

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