The stock of Eversource Energy (NYSE:ES) decreased by -$0.5 on Tuesday to finish at $63.79, down -0.78 percent. The last five days have seen an average of 2,493,700 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$20.05. The average number of shares traded over the last 20 days was 2,186,205, while the average volume over the last 50 days totaled 2,105,880.
ES stock dropped -1.05% since last month. On 09/06/23, the company’s shares reached a one-month low of $60.37. The stock touched a high of $89.84 on 01/09/23, after rallying from a low of $60.37 in 52 weeks. The price of ES stock has declined by -23.91% or -$20.05 this year, reaching a new high 4 times. Still, the stock price is down -29.00% from the 52-week high.
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Insider Transactions
ES stock investors should be aware that Eversource Energy (ES) stock had its last reported insider trading activity 35 days ago on Aug 16. On Aug 16, Executive VP & General Counsel BUTLER GREGORY B sold 15,000 shares at $64.25 each. This transaction resulted in the insider making $963,795. On Mar 03, FORRY LINDA DORCENA sold 1,554 shares at a price of US$75.03. After the transaction, the insider now owns 8,252 shares. Trustee Williams Frederica M had earlier sold 1,943 shares on Feb 16 for $78.83 a share. The transaction was completed for $153,167.
Valuation Metrics
Eversource Energy (ES) has a trailing price-to-earnings (P/E) ratio of 18.93. Beta for the stock is 0.50. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.76, the price-to-book (PB) ratio of 1.43.
Company paid $0.6750 per share in dividends, remained unchanged from $0.6750 last year.
Financial Health
For the three months ended June 29, Eversource Energy’s quick ratio was 0.60, while its current ratio was 0.60, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.42, and the total debt to equity ratio is 1.60. Eversource Energy’s EBITDA margin for the year ended June 29 was 31.26%, whereas its operating margin stood at 15.70% for the same period. Based on annual data, it had gross profit of $2.2 billion and revenue of $12.29 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ES’s return on assets (ROA) during the last 12 months has been 2.20%. There was a 4.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 7.60%.
Earnings Surprise
According to Eversource Energy’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.63 billion, while revenues rose by 2.16% to $3.8 billion. It was predicted that Eversource Energy’s quarterly earnings would be $1, but it ended up being $0.91, beating the consensus by 9.90%. EBITDA was $662.23 million for the quarter. At the end of Eversource Energy’s most recent quarter ended June 29, its liabilities totaled 38.99 billion, while its total debt was $24.82 billion. Equity owned by shareholders amounts to $349.09 million.
Technical Picture
Here’s a quick look at Eversource Energy’s (ES) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 50.77%, suggesting the stock is Neutral, with a 11.96% historical volatility rate.
The stochastic %K and %D were 70.32% and 69.17% respectively, while the average true range (ATR) was 1.06. Based on the 14-day stochastic reading of 70.37%, the RSI (14) reading is 45.44%. On the 9-day MACD Oscillator, the stock is at 0.96, and the 14-day reading is at 1.10.
Analyst Ratings
In its analyst report released on August 23, 2023, Barclays began covering Eversource Energy (NYSE: ES). The stock was rated as an Equal weight by the brokerage firm. Analysts have assigned Eversource Energy (ES) an Overweight rating. ES is a stock that is recommended for selling by 0 brokerage firms, while 9 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 2 rates it overweight and 8 others recommend it as a buy.
What is ES’s price target for the next 12 months?
The current consensus forecast for the stock is between $66.00 and $94.00, with a median target price of $75.00. In analyzing these forecasts, the average price target given by analysts for Eversource Energy (ES) is $78.73.
