Eversource Energy’s Stock Price Drops to $64.85, Reflecting a 2.41% Decline: A Critical Analysis

Eversource Energy (ES)

64.85 USD -1.60 (-2.41%) Volume: 3.63M

Eversource Energy’s stock price stands at 64.85 USD, marking a trading session dip of 2.41%, yet boasting a positive YTD change of +5.07% with a robust trading volume of 3.63M, highlighting the stock’s dynamic performance in the energy sector.

Latest developments on Eversource Energy

After state regulators approved another rate increase, Connecticut electric bills are set to go up again in September for Eversource Energy customers. The Public Utilities Regulatory Authority (PURA) gave the green light for another electric rate adjustment, causing Eversource Energy stock to trade down by 1.9% following insider selling. Despite this, the company’s stock still outperformed competitors on a strong trading day. In a separate incident, a Massachusetts family has filed a $450 million lawsuit against Eversource Energy over a natural gas explosion that tragically took the life of a man in Maynard. As the company continues to navigate these challenges, Eversource Energy remains under scrutiny as customers face high electric bills, with the company attributing the increase in usage during the summer as a contributing factor.

Eversource Energy on Smartkarma

Analysts at Baptista Research have initiated coverage on Eversource Energy, highlighting the company’s positive first-quarter performance. The report discusses Eversource Energy‘s transition towards a regulated utilities business model focused on delivering safe and reliable energy solutions. With gross earnings of $1.49 per share in Q1, up from $1.41 per share the previous year, the company is on track to meet its projected EPS guidance of $4.50 to $4.67 for 2024. This growth is attributed to segments like Electric Transmission and Natural Gas Distribution, which have seen increased revenues and efficient capital cost recovery mechanisms.

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

Based on the Smartkarma Smart Scores, Eversource Energy has a positive long-term outlook overall. The company scores highly in the areas of Dividend and Value, indicating a strong financial performance and potential for returns for investors. However, Eversource Energy scores lower in Growth and Resilience, suggesting some challenges in terms of expansion and adaptability to market changes. With a solid Momentum score, Eversource Energy shows promise in terms of its market position and potential for future growth.

Eversource Energy, a public utility holding company, primarily operates in the retail electric and natural gas distribution sectors in several states. Despite facing challenges in growth and resilience, the company’s strong performance in dividend payments and overall value make it an attractive option for investors looking for stable returns. With a decent momentum score, Eversource Energy is poised to continue its presence in the market and potentially expand its services in the future.

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