Better Times Ahead For Eversource Energy (NYSE: ES)?

Eversource Energy (ES) concluded trading on Thursday at a closing price of $65.85, with 3.61 million shares of worth about $238.05 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.40% during that period and on October 31, 2024 the price saw a gain of about 0.55%. Currently the company’s common shares owned by public are about 357.38M shares, out of which, 356.43M shares are available for trading.

Stock saw a price change of -1.45% in past 5 days and over the past one month there was a price change of -1.24%. Year-to-date (YTD), ES shares are showing a performance of 6.69% which increased to 22.42% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $52.03 but also hit the highest price of $69.01 during that period. The average intraday trading volume for Eversource Energy shares is 2.09 million. The stock is currently trading 0.92% above its 20-day simple moving average (SMA20), while that difference is down -0.94% for SMA50 and it goes to 7.72% higher than SMA200.

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Eversource Energy (NYSE: ES) currently have 357.38M outstanding shares and institutions hold larger chunk of about 82.40% of that.

The stock has a current market capitalization of $23.53B and its 3Y-monthly beta is at 0.62. It has posted earnings per share of -$0.28 in the same period. It has Quick Ratio of 0.66 while making debt-to-equity ratio of 1.95. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ES, volatility over the week remained 1.89% while standing at 1.66% over the month.

Stock’s fiscal year EPS is expected to rise by 5.11% while it is estimated to increase by 5.10% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on June 25, 2024 offering a Neutral rating for the stock and assigned a target price of $61 to it. Coverage by Goldman stated Eversource Energy (ES) stock as a Buy in their note to investors on April 10, 2024, suggesting a price target of $73 for the stock. On April 04, 2024, UBS Upgrade their recommendations, while on February 15, 2024, Mizuho Upgrade their ratings for the stock with a price target of $62. Stock get a Buy rating from Guggenheim on January 22, 2024.

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