BofA Securities has recently raised Eversource Energy (ES) stock to Neutral rating, as announced on June 25, 2024, according to Finviz. Earlier, on April 10, 2024, Goldman had initiated the stock to Buy, setting a price target of $73. UBS also raised Buy rating with a price target of $67. Additionally, Mizuho raised Buy rating on February 15, 2024, with a target price of $62. Guggenheim analysts, in their report published on January 22, 2024, also raised Buy rating for Eversource Energy’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Eversource Energy (ES) Stock Trading Recap
On Wednesday, Eversource Energy (ES) stock saw a modest uptick, ending the day at $67.09 which represents a slight increase of $0.86 or 1.30% from the prior close of $66.23. The stock opened at $66.28 and touched a low of $66.17 during the day, reaching a high of $67.15. The volume of shares traded was 1.38 million falling short of the average volume of 2.16 million.
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ES Stock Performance and Moving Averages
In recent trading, Eversource Energy (ES) stock price has shown some volatility, fluctuating 2.04% over the last five trades and 0.86% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 10.27%, and it has gained 5.49% in the previous three months. Currently, ES is trading at 2.28%, 0.93%, and 10.23% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, ES, a Utilities sector stock, is trading -2.78% below its 52-week high but remains 28.94% above its 52-week low. The Average True Range (ATR) (14 days) of 1.08 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Eversource Energy’s Profitability and Valuation Ratios
Eversource Energy’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 22.35% and a profit margin of -0.81%, with a gross margin of 10.27%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Eversource Energy’s market capitalization stands at $23.98 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The forward P/E ratio, which uses projected earnings for the next financial year, is 13.98. Additionally, the Price-to-Sales Ratio is 2.11, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.61, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.27% of Eversource Energy (ES)’s shares, while financial institutions hold 82.43%.
Notable insider trades include Conner Penelope M, EVP-Cust Exp & Energy Strategy at Eversource Energy (ES), who sold 2700 shares on May 31 ’24, at $58.75 each, totaling $0.16 million. On May 29 ’24, BUTLER GREGORY B, Executive VP & General Counsel, sold 10000 shares for $56.2 each, amounting to $0.56 million. Additionally, on Feb 26 ’24, Williams Frederica M sold 2714 shares at $57.6 each, generating $0.16 million.
