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Are we looking at the next big move in Eversource Energy (ES)?

Eversource Energy (NYSE: ES) is -1.64% lower on its value in year-to-date trading and has touched a low of $73.61 and a high of $96.66 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ES stock was last observed hovering at around $85.45 in the last trading session, with the day’s loss setting it -0.36% off its average median price target of $94.00 for the next 12 months. It is also 14.91% off the consensus price target high of $100.00 offered by 21 analysts, but current levels are 2.2% higher than the price target low of $87.00 for the same period.

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Currently trading at $85.09, the stock is -3.08% and 0.97% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.74 million and changing -0.42% at the moment leaves the stock -1.89% off its SMA200. ES registered 2.06% gain for a year compared to 6-month loss of -7.39%. The firm has a 50-day simple moving average (SMA 50) of $82.26 and a 200-day simple moving average (SMA200) of $86.58.

The stock witnessed a -1.39% gain in the last 1 month and extending the period to 3 months gives it a -4.54%, and is -3.55% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.72% over the week and 1.65% over the month.

Eversource Energy (ES) has around 9299 employees, a market worth around $29.23B and $8.90B in sales. Current P/E ratio is 23.98 and Fwd P/E is 20.67. Profit margin for the company is 13.50%. Distance from 52-week low is 15.60% and -11.97% from its 52-week high. The company has generated returns on investments over the last 12 months (5.10%).

Eversource Energy (ES) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Eversource Energy (ES) is a “Hold”. 21 analysts offering their recommendations for the stock have an average rating of 2.60, where 10 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 4 analysts have rated the stock as a Sell or Underperform.

Eversource Energy is expected to release its quarterly report on 08/04/2021 and quarterly earnings per share for the current quarter are estimated at $1.09 with sales reaching $2.56B over the same period.The EPS is expected to grow by 26.00% this year, but quarterly earnings will post 6.00% year-over-year. Quarterly sales are estimated to grow 7.80% in year-over-year returns.

Eversource Energy (ES) Top Institutional Holders

1,103 institutions hold shares in Eversource Energy (ES), with 1.21M shares held by insiders accounting for 0.35% while institutional investors hold 81.03% of the company’s shares. The shares outstanding are 343.22M, and float is at 341.46M with Short Float at 1.40%. Institutions hold 80.75% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 40.91 million shares valued at $3.54 billion. The investor’s holdings represent 11.92% of the ES Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 30.41 million shares valued at $2.63 billion to account for 8.86% of the shares outstanding. The other top investors are Magellan Asset Management Ltd which holds 25.53 million shares representing 7.44% and valued at over $2.21 billion, while State Street Corporation holds 5.70% of the shares totaling 19.56 million with a market value of $1.69 billion.

Eversource Energy (ES) Insider Activity

A total of 39 insider transactions have happened at Eversource Energy (ES) in the last six months, with sales accounting for 15 and purchases happening 24 times. The most recent transaction is an insider sale by NOLAN JOSEPH R JR, the company’s EVP-Strategy, Cust & Corp Rel. SEC filings show that NOLAN JOSEPH R JR sold 11,168 shares of the company’s common stock on Nov 09 at a price of $95.00 per share for a total of $1.06 million. Following the sale, the insider now owns 15981.0 shares.

Eversource Energy disclosed in a document filed with the SEC on Oct 08 that Carmody Christine M (EVP – HR and IT) sold a total of 11,142 shares of the company’s common stock. The trade occurred on Oct 08 and was made at $92.00 per share for $1.03 million. Following the transaction, the insider now directly holds 33327.0 shares of the ES stock.

Still, SEC filings show that on Sep 04, BUTLER GREGORY B (Executive VP & General Counsel) disposed off 5,375 shares at an average price of $86.03 for $0.46 million. The insider now directly holds 70,950 shares of Eversource Energy (ES).

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Eversource Energy (ES): Who are the competitors?

The company’s main competitors (and peers) include Alliant Energy Corporation (LNT) that is trading 12.08% up over the past 12 months. Unitil Corporation (UTL) is 5.22% up on the 1-year trading charts. Short interest in the company’s stock has fallen -43.84% from the last report on Apr 14, 2021 to stand at a total of 4.79 million short shares sold with a short interest ratio of 3.3.

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