Eversource Energy (NYSE:ES) traded at $60.62 at close of the session on Tuesday, April 30, made an upward move of 0.26% on its previous day’s price.
Looking at the stock we see that its previous close was $60.46 . In terms of its 52-week price range, ES has a high of $78.64 and a low of $52.03. The company’s stock has gained about 2.96% over that past 30 days.
Eversource Energy has a market cap of $21.20 billion. With its Forward Dividend at 2.74 and a yield of 4.52%, the company’s investors could be anxious for the ES stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.46, with the EPS growth for the year raised at $4.56 for 2024 and $4.81 for next year. These figures represent -7.50% and 5.50% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $3.8 billion, with a low of $3.04 billion and a high of $4.34 billion. The median projection represents growth squeezing down to 17.90% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $12.99 billion, or 9.00% up from figures reported last year.
On the other hand, looking at the outlook for the ES stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Buy.
Looking further, we note the current price level is 2.21% off its SMA20 and 2.84% from its 50-day simple moving average. The RSI (14) is pointing at 57.59 while the volatility over the past week is 2.46% and jumps to 2.11% over the past one month. The beta value is 0.59, while the average true range (ATR) is currently pointing at 1.36.
Coming back to Eversource Energy (NYSE:ES), we note that the average 3-month trading volume was 2.69 million. Current shares outstanding are 349.54 million.
The insiders hold 0.48% of the company’s shares while institutions hold 81.35%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -1.78% down in year-to-date price movement.
