Eversource Energy [NYSE: ES] stock went on an upward path that rose over 2.04% on Monday, amounting to a one-week price increase of more than 5.94%. The company report on November 6, 2023 at 6:00 AM that Eversource Energy Reports Third Quarter Results.
Eversource Energy (NYSE: ES) today reported earnings of $339.7 million, or $0.97 per share, for the third quarter of 2023, compared with earnings of $349.4 million, or $1.00 per share, for the third quarter of 2022. Eversource Energy earnings totaled $846.2 million, or $2.42 per share, in the first nine months of 2023, compared with earnings of $1,084.7 million, or $3.13 per share, in the first nine months of 2022.
Results for the first nine months of 2023 include an after-tax impairment charge of $331.0 million, or $0.95 per share, related to Eversource Energy’s offshore wind investment. In addition, results for both years include transaction costs and other charges that totaled $6.9 million in the first nine months of 2023, compared with $13.0 million in the first nine months of 2022 and $2.2 million in the third quarter of 2022. Excluding the charges noted above, Eversource Energy earned $339.7 million, or $0.97 per share, in the third quarter of 2023, and $1,184.1 million1, or $3.38 per share1 in the first nine months of 2023, compared with $351.6 million1, or $1.01 per share1, in the third quarter of 2022 and $1,097.7 million1, or $3.17 per share1, in the first nine months of 2022.
Over the last 12 months, ES stock dropped by -25.77%. The one-year Eversource Energy stock forecast points to a potential upside of 15.27. The average equity rating for ES stock is currently 2.58, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $19.74 billion, with 348.44 million shares outstanding and 347.68 million shares in the current float. Compared to the average trading volume of 2.53M shares, ES stock reached a trading volume of 5270080 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 $66.75 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 2.58. 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.
Scotiabank have made an estimate for Eversource Energy shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on October 16, 2023.
The Average True Range (ATR) for Eversource Energy is set at 1.63, with the Price to Sales ratio for ES stock in the period of the last 12 months amounting to 1.61. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 0.12.
ES Stock Performance Analysis:
Eversource Energy [ES] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.94. With this latest performance, ES shares gained by 1.34% in over the last four-week period, additionally sinking by -26.31% over the last 6 months – not to mention a drop of -25.77% 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 53.18, with the RSI for the last a single of trading hit 61.84, and the three-weeks RSI is set at 48.23 for Eversource Energy [ES]. The present Moving Average for the last 50 days of trading for this stock 58.60, while it was recorded at 54.63 for the last single week of trading, and 70.28 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 +17.89 and a Gross Margin at +25.30. Eversource Energy’s Net Margin is presently recorded at +11.43.
Return on Total Capital for ES is now 5.96, given the latest momentum, and Return on Invested Capital for the company is 4.14. Return on Equity for this stock inclined to 9.34, with Return on Assets sitting at 2.76. When it comes to the capital structure of this company, Eversource Energy [ES] has a Total Debt to Total Equity ratio set at 149.00. Additionally, ES Total Debt to Total Capital is recorded at 59.84, with Total Debt to Total Assets ending up at 43.31. Long-Term Debt to Equity for the company is recorded at 130.79, with the Long-Term Debt to Total Capital now at 52.52.
Reflecting on the efficiency of the workforce at the company, Eversource Energy [ES] managed to generate an average of $145,946 per employee. Receivables Turnover for the company is 7.70 with a Total Asset Turnover recorded at a value of 0.24.Eversource Energy’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.57 and a Current Ratio set at 0.64.
ES Stock EPS
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 4.00%.
Eversource Energy [ES] Institutonal Ownership Details
The top three institutional holders of ES stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ES stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ES stock with ownership which is approximately 5.7994%.