Eversource Energy (NYSE:ES) finished Wednesday with an addition of $0.26 to close at $64.13, an upside of 0.41 percent. An average of 1,603,160 shares of common stock have been traded in the last five days. There was a fall of -$0.29 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 2,196,855 shares traded, while the 50-day average volume stands at 2,051,422.
ES stock has decreased by -13.21% in the last month. The company shares reached their 1-month lowest point of $63.30 on 08/21/23. With the stock rallying to its 52-week high on 01/09/23, shares of the company touched a low of $63.30 and a high of $92.97 in 52 weeks. It has reached a new high 4 times so far this year and lost -23.51% or -$19.71 in price. In spite of this, the price is down -31.02% from the 52-week high.
Insider Transactions
ES stock investors should be aware that Eversource Energy (ES) stock had its last reported insider trading activity 8 days ago on Aug 16. In this transaction, the insider spent $963,795. Trustee, FORRY LINDA DORCENA, disposed of 1,554 shares at a price of $75.03 on Mar 03. The insider now owns more than $116,594 worth of shares. Prior to that, Trustee Williams Frederica M went on to Sale 1,943 shares at $78.83 each on Feb 16. An amount of $153,167 was transacted.
Valuation Metrics
Eversource Energy (ES) has a trailing price-to-earnings (P/E) ratio of 19.03. The stock’s beta is 0.51. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.77, the price-to-book (PB) ratio at 1.44.
The company has a payout ratio of 77.80%. The company’s most recent quarterly dividend payment was $0.6750 a share, without any change from last year. Its latest increase dividend $0.0375 reported on Wednesday February 1 2023.
Financial Health
The quick ratio of Eversource Energy for the three months ended June 29 was 0.60, and the current ratio was 0.60, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.42 and a total debt to equity ratio of 1.60 for the quarter ending June 29. Eversource Energy’s EBITDA margin for the year ending June 29 is 31.26%, while its operating margin for the same period stands at 15.70%. Its gross profit as reported stood at $2.2 billion compared to revenue of $12.29 billion.
Earnings Surprise
For the three-month period that ended June 29, Eversource Energy had $21.77 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $15.42 million in the quarter, while revenues of $491.16 million were shrunk -1792.74%. The analyst consensus anticipated Eversource Energy’s latest quarter earnings to come in at $0.91 per share, but it turned out to be $1, a 9.90% surprise. For the quarter, EBITDA amounted to $662.23 million. Shareholders own equity worth $349.09 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Eversource Energy (ES) price momentum. RSI 9-day as of the close on 23 August was 24.80%, suggesting the stock is oversold, with historical volatility in this time frame at 18.27%.
As of today, ES’s price is $64.14 -0.45% or -$0.29 from its 5-day moving average. ES is currently trading -12.89% lower than its 20-day SMA and -17.90% lower than its 100-day SMA. However, the stock’s current price level is -8.69% below the SMA50 and -15.84% below the SMA200.
The stochastic %K and %D were 10.63% and 7.28%, respectively, and the average true range (ATR) was 1.12. With the 14-day stochastic at 15.01% and the average true range at 1.20, the RSI (14) stands at 28.04%. The stock has reached -0.80 on the 9-day MACD Oscillator while the 14-day reading was at -1.60.
Analyst Ratings
Barclays launched coverage on Eversource Energy (NYSE: ES) in its analyst report released on August 23, 2023. The firm assigned the stock an Equal weight rating. The consensus rating for Eversource Energy (ES) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ES, while 9 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 8 others rate it as a “buy”.
What is ES’s price target for the next 12 months?
Analysts predict a range of price targets between $67.00 and $100.00, with a median target of $80.00. Taking a look at these predictions, the average price target given by analysts for Eversource Energy (ES) stock is $80.67.
