Eversource Energy [NYSE: ES] stock went on an upward path that rose over 0.44% on Friday, amounting to a one-week price decrease of less than -0.84%. The company report on October 1, 2020 that Edison Chouest Offshore Affiliate Executes Long-Term Charter Agreement With Ørsted And Eversource For Provision Of The First U.S. Jones Act Compliant Windfarm Service Operation Vessel.
Edison Chouest Offshore (ECO), Ørsted and Eversource announced today the execution of a long-term charter agreement for the provision of the first-ever U.S. flagged “Jones Act” compliant Service Operations Vessel (SOV). The SOV will be engineered, constructed and operated by ECO as an integral part of the operation and maintenance of the Revolution Wind, South Fork Wind and Sunrise Wind offshore wind farms in the northeast United States, which are dependent on obtaining the necessary federal permits from the Bureau of Ocean Energy Management (BOEM).
The SOV will be utilized during the operation & maintenance (O&M) phases of the wind farm projects, serving as an at sea base of operations to accommodate and transfer technicians, tools and parts safely to and from the individual Wind Turbine Generators. This vessel is a special-purpose design with focus on passenger comfort and safety, enhanced maneuverability and ship motions, extended offshore endurance and reduced emissions.
Over the last 12 months, ES stock rose by 7.40%. The one-year Eversource Energy stock forecast points to a potential downside of -0.14. The average equity rating for ES stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $31.19 billion, with 342.54 million shares outstanding and 341.93 million shares in the current float. Compared to the average trading volume of 1.35M shares, ES stock reached a trading volume of 1804897 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Eversource Energy [ES]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ES shares is $91.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ES stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Eversource Energy shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 05, 2020. The new note on the price target was released on August 24, 2020, representing the official price target for Eversource Energy stock. Previously, the target price had yet another raise from $76 to $81, while Credit Suisse kept a Underperform rating on ES stock.
The Average True Range (ATR) for Eversource Energy is set at 1.90, with the Price to Sales ratio for ES stock in the period of the last 12 months amounting to 3.65. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 0.19.
ES Stock Performance Analysis:
Eversource Energy [ES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.84. With this latest performance, ES shares gained by 11.58% in over the last four-week period, additionally plugging by 4.16% over the last 6 months – not to mention a rise of 7.40% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ES stock in for the last two-week period is set at 64.31, with the RSI for the last a single of trading hit 66.10, and the three-weeks RSI is set at 61.50 for Eversource Energy [ES]. The present Moving Average for the last 50 days of trading for this stock 85.89, while it was recorded at 92.00 for the last single week of trading, and 85.70 for the last 200 days.
Insight into Eversource Energy Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Eversource Energy [ES] shares currently have an operating margin of +21.46 and a Gross Margin at +30.55. Eversource Energy’s Net Margin is presently recorded at +10.66.
Return on Total Capital for ES is now 6.69, given the latest momentum, and Return on Invested Capital for the company is 3.54. Return on Equity for this stock inclined to 7.54, with Return on Assets sitting at 2.29. When it comes to the capital structure of this company, Eversource Energy [ES] has a Total Debt to Total Equity ratio set at 123.76. Additionally, ES Total Debt to Total Capital is recorded at 55.31, with Total Debt to Total Assets ending up at 38.01. Long-Term Debt to Equity for the company is recorded at 113.70, with the Long-Term Debt to Total Capital now at 50.81.
Reflecting on the efficiency of the workforce at the company, Eversource Energy [ES] managed to generate an average of $110,402 per employee. Receivables Turnover for the company is 7.29 with a Total Asset Turnover recorded at a value of 0.21.Eversource Energy’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.
ES Stock EPS
With the latest financial reports released by the company, Eversource Energy posted 0.98/share EPS, while the average EPS was predicted by analysts to be reported at 0.96/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Eversource Energy go to 6.44%.
Eversource Energy [ES] Insider Position Details
There are presently around $25,155 million, or 82.80% of ES stock, in the hands of institutional investors. The top three institutional holders of ES stocks are: VANGUARD GROUP INC with ownership of 41,831,484, which is approximately -0.759% of the company’s market cap and around 0.35% of the total institutional ownership; BLACKROCK INC., holding 29,167,789 shares of the stock with an approximate value of $2.67 billion in ES stocks shares; and MAGELLAN ASSET MANAGEMENT LTD, currently with $2.18 billion in ES stock with ownership of nearly 52.178% of the company’s market capitalization.
Positions in Eversource Energy stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 352 institutional holders increased their position in Eversource Energy [NYSE:ES] by around 22,432,997 shares. Additionally, 334 investors decreased positions by around 13,236,674 shares, while 124 investors held positions by with 239,485,015 shares. The mentioned changes placed institutional holdings at 275,154,686 shares, according to the latest SEC report filing. ES stock had 84 new institutional investments in for a total of 942,888 shares, while 68 institutional investors sold positions of 1,574,001 shares during the same period.