Eversource Energy (ES): Technicals Say You should Hold

Eversource Energy (NYSE:ES) saw an upside of 1.40% to close Tuesday at $85.51 after adding $1.18 on the day. The 5-day average trading volume is 1,330,240 shares of the company’s common stock. It has gained $87.05 in the past week. An average of 1,473,990 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,448,882.

ES’s 1-month performance is -3.21% or -$2.82 on its low of $80.35 reached on 09/28/21. The company’s shares have touched a 52-week low of $76.64 and high of $96.66, with the stock’s rally to the 52-week high happening on 08/20/21. YTD, ES has lost -1.16% or -$1.00. However, the current price is down -11.54%% from the 52-week high price.


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Insider Transactions

On Aug 04, 70 days have gone by since the last insider trading activity for Eversource Energy (ES). FORRY LINDA DORCENA (Trustee) most recently sold 625 shares at $87.79 per share on Aug 04. This transaction cost the insider $54,870. Executive VP & General Counsel, BUTLER GREGORY B, sold 12,000 shares at a price of $82.16 on Jun 04. Then, on May 18, VP, Controller, Chief Acct Off BUTH JAY S. sold 3,001 shares at a price of $84.38 per share. This transaction amounted to $253,233.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 35.07 and a low of 16.84. ES stock has a beta of 0.38. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.11 while the price-to-book (PB) in the most recent quarter is 2.05.

Eversource Energy pays an annual dividend of $2.41 per share. Its dividend yield is 2.82% and the payout ratio is 64.40%. ES’s most recent quarterly dividend payment was made on Sep. 30, when it paid $0.6025 a share compared with prior rate of $0.6025, down 0.0% from last year’s. The company has boosted its dividend for the last 11 consecutive years with the latest dividend increase of $0.0350 reported on Tuesday February 9 2021. Measured over the last 3 years, the Dividend has been growing by 19.47% yearly.

It is projected that Eversource Energy’s next ex-dividend date will be on 22-Dec. ES is expected to distribute $0.6025 as its next dividend.

Eversource Energy’s quick ratio for the period ended June 29 was 0.60, with the current ratio over the same period at 0.60 meaning that ES stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.14, while the total debt to equity was 1.34The trailing 12-month EBITDA margin is 35.53% while for the period ending June 29; Eversource Energy’s operating margin was 21.50%. The firm’s gross profit as reported stood at $1.99 billion against revenue of $8.9 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Eversource Energy’s cash and short-term investments amounted to $35.11 million against total debt of $19.17 billion. Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected ES to announce $0.8 per share in earnings in its latest quarter, but it posted $0.79, representing a -1.30% surprise. EBITDA for the quarter stood at more than $731.86 million. ES stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 32.92 billion, with total debt at $19.17 billion. Shareholders hold equity totaling $343.64 million

Technical Picture

Let’s look briefly at Eversource Energy (ES) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 55.39% to suggest the stock is trending Neutral, with historical volatility in this time period at 29.08%.

The stock’s 5-day moving average is $85.52, reflecting a +0.97% or $0.82 change from its current price. ES is currently trading -1.68% above its 20-day SMA, +2.09% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -2.05% and +1.62% respectively.

Stochastic %K and %D was 70.65% and 76.97% and the average true range (ATR) pointed at 1.57. The RSI (14) points at 51.17%, while the 14-day stochastic is at 77.01% with the period’s ATR at 1.57. The stock’s 9-day MACD Oscillator is pointing at 0.55 and 1.46 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Eversource Energy (NYSE: ES), Mizuho downgraded it to an Underperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for ES stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate ES as a “sell,”, while 11 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 0 rates the stock as overweight while 5 have offered a “buy” rating.

What is ES’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $82.00 and a high of $102.00, with their median price target at $91.00. Looking at these predictions, the average price target given by analysts is for Eversource Energy (ES) stock is $90.59.

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