Eversource Energy (ES): A Technical Analysis

ES has 36-month beta value of 0.60. Analysts have mixed views on the stock, with 1 analysts rating it as a “buy,” 5 as “overweight,” 7 as “hold,” and 1 as “sell.”

The public float for ES is 348.00M, and currently, short sellers hold a 1.50% ratio of that float. The average trading volume of ES on April 03, 2024 was 3.23M shares.

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ES) stock’s latest price update

Eversource Energy (NYSE: ES) has experienced a rise in its stock price by 0.66 compared to its previous closing price of 58.88. However, the company has seen a gain of 3.04% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-21 that Amid the ongoing transition in the utility space and still-high interest rates, utilities like NEE, ED, ES and CNP are set to benefit from a strong customer base. They have plans to upgrade infrastructure, add clean assets and provide reliable services.

ES’s Market Performance

Eversource Energy (ES) has seen a 3.04% rise in stock performance for the week, with a 1.47% gain in the past month and a -3.97% plunge in the past quarter. The volatility ratio for the week is 2.52%, and the volatility levels for the past 30 days are at 2.26% for ES. The simple moving average for the last 20 days is 0.73% for ES’s stock, with a simple moving average of -3.20% for the last 200 days.

Analysts’ Opinion of ES

Many brokerage firms have already submitted their reports for ES stocks, with Mizuho repeating the rating for ES by listing it as a “Buy.” The predicted price for ES in the upcoming period, according to Mizuho is $62 based on the research report published on February 15, 2024 of the current year 2024.

Guggenheim, on the other hand, stated in their research note that they expect to see ES reach a price target of $72. The rating they have provided for ES stocks is “Buy” according to the report published on January 22nd, 2024.

Evercore ISI gave a rating of “In-line” to ES, setting the target price at $65 in the report published on November 07th of the previous year.

ES Trading at 3.81% from the 50-Day Moving Average

After a stumble in the market that brought ES to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -27.15% of loss for the given period.

Volatility was left at 2.26%, however, over the last 30 days, the volatility rate increased by 2.52%, as shares surge +0.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.97% upper at present.

During the last 5 trading sessions, ES rose by +3.04%, which changed the moving average for the period of 200-days by -15.21% in comparison to the 20-day moving average, which settled at $58.86. In addition, Eversource Energy saw -3.97% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at ES starting from FORRY LINDA DORCENA, who sale 822 shares at the price of $58.12 back on Mar 01 ’24. After this action, FORRY LINDA DORCENA now owns 10,485 shares of Eversource Energy, valued at $47,775 using the latest closing price.

Williams Frederica M, the Trustee of Eversource Energy, sale 2,714 shares at $57.60 during a trade that took place back on Feb 26 ’24, which means that Williams Frederica M is holding 21,621 shares at $156,337 based on the most recent closing price.

Stock Fundamentals for ES

Current profitability levels for the company are sitting at:

  • 0.2 for the present operating margin
  • 0.32 for the gross margin

The net margin for Eversource Energy stands at -0.04. The total capital return value is set at 0.05. Equity return is now at value -2.98, with -0.81 for asset returns.

Based on Eversource Energy (ES), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.06. The debt to equity ratio resting at 1.89. The interest coverage ratio of the stock is 2.8.

Currently, EBITDA for the company is 3.22 billion with net debt to EBITDA at 7.98. When we switch over and look at the enterprise to sales, we see a ratio of 3.99. The receivables turnover for the company is 7.19for trailing twelve months and the total asset turnover is 0.21. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.67.

Conclusion

To put it simply, Eversource Energy (ES) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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