Nothing is Better Than Eversource Energy (ES) stock at the moment

Eversource Energy (NYSE: ES) stock jumped 0.18% on Friday to $87.99 against a previous-day closing price of $87.83. With 1.45 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.39 million shares. During the session, the Utilities – Regulated Electric company that operates in wider Utilities sector, reached to the highest price of $88.63 whereas the lowest price it dropped to was $86.79. The 52-week range on ES shows that it touched its highest point at $94.63 and its lowest point at $77.07 during that stretch. It currently has a 1-year price target of $94.35. With its current market cap of 30.27 billion, ES has annualized dividend of $2.55 while the current yield stands at 2.90%. Beta for the stock currently stands at 0.46.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ES was down-trending over the past week, with a drop of -0.23%, but this was down by -4.11% over a month. Three-month performance surged to 7.17% while six-month performance rose 3.91%. The stock gained 6.08% in the past year, while it has lost -3.29% so far this year. A look at the trailing 12-month EPS for ES yields 3.84 with Next year EPS estimates of 4.38. For the next quarter, that number is 1.09. This implies an EPS growth rate of -0.10% for this year and 6.74% for next year. EPS is expected to grow by 6.25% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 3.70%.

Float and Shares Shorts:

At present, 345.89 million ES shares are outstanding with a float of 345.13 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.21 million, which was 1.22% higher than short shares on Jun 14, 2022. In addition to Mr. James J. Judge as the firm’s Exec. Chairman, Mr. Joseph R. Nolan Jr. serves as its Pres, CEO & Trustee.

Institutional Ownership:

Through their ownership of 81.57% of ES’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.50% of ES, in contrast to 33.44% held by mutual funds. Shares owned by individuals account for 0.84%. As the largest shareholder in ES with 12.13% of the stake, The Vanguard Group, Inc. holds 42,005,079 shares worth 42,005,079. A second-largest stockholder of ES, SSgA Funds Management, Inc., holds 24,683,208 shares, controlling over 7.13% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ES, holding 22,979,542 shares or 6.63% stake. With a 2.95% stake in ES, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 10,231,102 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 2.29% of ES stock, is the second-largest Mutual Fund holder. It holds 7,918,033 shares valued at 710.17 million. Vanguard 500 Index Fund holds 2.22% of the stake in ES, owning 7,695,749 shares worth 690.23 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ES since 19 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 12 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ES analysts setting a high price target of $104.00 and a low target of $88.00, the average target price over the next 12 months is $94.56. Based on these targets, ES could surge 18.2% to reach the target high and rise by 0.01% to reach the target low. Reaching the average price target will result in a growth of 7.47% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ES will report FY 2022 earnings on 02/15/2023. Analysts have provided yearly estimates in a range of $4.15 being high and $4.06 being low. For ES, this leads to a yearly average estimate of $4.11. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Eversource Energy surprised analysts by $0.02 when it reported $0.86 EPS against a consensus estimate of $0.84. The surprise factor in the prior quarter was $0.11. Based on analyst estimates, the high estimate for the next quarter is $1.16 and the low estimate is $0.97. The average estimate for the next quarter is thus $1.08.

Summary of Insider Activity:

Insiders traded ES stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 42 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 547,244 while 253,325 shares were sold.

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