Eversource Energy [NYSE: ES] traded at a low on Thursday, posting a -2.23 loss after which it closed the day’ session at $57.89. The company report on February 29, 2024 at 12:27 PM that Ørsted and Eversource Win Bid for Updated Sunrise Wind Project in New York.
Ready-to-Build Project Set to Create Jobs and Help N.Y. Meet Its Climate Goals; Sunrise Wind Would Be Largest U.S. Offshore Wind Farm Upon Completion in 2026.
New York State has selected Ørsted and Eversource to negotiate a new 25-year contract for their Sunrise Wind offshore wind farm. This conditional award brings the 924-megawatt project one critical step closer to fulfilling its promise to deliver substantial economic benefits across New York and help the state meet its climate goals.
The results of the trading session contributed to over 3728848 shares changing hands. Over the past one week, the price volatility of Eversource Energy stands at 1.97% while the volatility over the past one month is 2.26%.
The market cap for ES stock reached $20.24 billion, with 349.54 million shares outstanding and 347.57 million shares in the current float. Compared to the average trading volume of 3.13M shares, ES reached a trading volume of 3728848 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $63.93 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 2.33. 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.
Mizuho have made an estimate for Eversource Energy shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 15, 2024. The new note on the price target was released on January 22, 2024, representing the official price target for Eversource Energy stock. Previously, the target price had yet another drop from $84 to $65, while Evercore ISI kept a In-line rating on ES stock.
The Average True Range (ATR) for Eversource Energy is set at 1.39, with the Price to Sales ratio for ES stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 0.15.
How has ES stock performed recently?
Eversource Energy [ES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.98. With this latest performance, ES shares dropped by -0.91% in over the last four-week period, additionally sinking by -9.49% over the last 6 months – not to mention a drop of -22.73% 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 46.66, with the RSI for the last a single of trading hit 40.74, and the three-weeks RSI is set at 48.74 for Eversource Energy [ES]. The present Moving Average for the last 50 days of trading for this stock 56.85, while it was recorded at 58.76 for the last single week of trading, and 61.60 for the last 200 days.
Eversource Energy [ES]: Deeper insight into the fundamentals
Eversource Energy’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.59 and a Current Ratio set at 0.67.
Earnings analysis for Eversource Energy [ES]
With the latest financial reports released by the company, Eversource Energy posted 1.41/share EPS, while the average EPS was predicted by analysts to be reported at 1.34/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.20%. 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 3.25%.
Insider trade positions for Eversource Energy [ES]
The top three institutional holders of ES stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ES stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ES stock with ownership which is approximately 5.8325%.
