Eversource Energy’s Stock Price Drops to $55.56, Experiencing a 4.77% Decrease: Time to Sell or Buy?

Eversource Energy (ES)

55.56 USD -2.78 (-4.77%) Volume: 4.84M

Discover the latest trends in Eversource Energy’s stock price, currently trading at 55.56 USD, following a decrease of 4.77% this trading session. With a trading volume of 4.84M and a year-to-date percentage change of -3.26%, ES’s stock performance continues to be a key point of interest in the energy sector.

Latest developments on Eversource Energy

Eversource Energy has been making headlines recently, from offering free Arbor Day trees in Manchester to their engineers winning an excellence award for the Outer Cape Battery Energy Storage System. The company has also been in the spotlight for wanting to return $275 million to electric customers, although the CT regulatory agency has put a hold on this plan. Additionally, Eversource has been busy with gas main installations and restoring power in Meriden after 5,000 residents faced outages. These events have likely contributed to the fluctuations in Eversource Energy‘s stock price today.

Eversource Energy on Smartkarma

Analysts at Baptista Research have provided bullish coverage on Eversource Energy, highlighting the company’s strong financial performance and strategic positioning. In their report titled “Eversource Energy’s Power Play: $7 Billion to Reinvent the Electric Grid!”, the analysts noted that the company concluded 2024 with notable achievements despite facing challenges. Earnings per share (EPS) increased by 5.3% compared to the previous year, surpassing the midpoint of its revised guidance. The positive performance was attributed to strong showings in electric transmission, distribution, and natural gas segments, driven by base rate increases and infrastructure investments.

In another report by Baptista Research, analysts discussed Eversource Energy‘s strategic moves in the third quarter, particularly its exit from the offshore wind development sector. The company sold its stakes in Revolution Wind and South Fork Wind to Global Infrastructure Partners, signaling a shift towards becoming a regulated pure play utility focused on electric, natural gas, and water services. The report titled “Eversource Energy: Can Its Approval & Integration of Advanced Metering Infrastructure (AMI) Be A Game Changer? – Major Drivers” highlighted significant developments that showcase Eversource’s commitment to its new strategic direction and financial adjustments.

A look at Eversource Energy Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

According to Smartkarma Smart Scores, Eversource Energy has received positive ratings for its value and dividend outlook. This indicates that the company is seen as having strong financial fundamentals and a reliable dividend payment history. However, the scores for growth, resilience, and momentum are lower, suggesting that Eversource Energy may face challenges in terms of expanding its business, adapting to market changes, and maintaining a strong upward trend in its stock performance.

Eversource Energy is a public utility holding company that provides retail electric service in several states. Despite receiving high scores for value and dividends, the company’s lower scores for growth, resilience, and momentum indicate potential obstacles in its long-term outlook. Investors may need to consider these factors carefully when evaluating Eversource Energy as an investment option.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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