Eversource Energy’s Stock Price Drops to $57.89, Records 2.23% Decline: Is It Time to Buy?

Eversource Energy (ES)

57.89 USD -1.32 (-2.23%) Volume: 3.74M

Eversource Energy’s stock price stands at 57.89 USD, experiencing a dip of -2.23% in the latest trading session with a trading volume of 3.74M, reflecting a YTD percentage change of -6.21%, highlighting a challenging market performance for the energy sector.

Latest developments on Eversource Energy

Eversource Energy‘s stock price has seen notable movements recently, following a series of significant events. Despite ranking second-to-last in a customer satisfaction survey, the company’s stock saw a rise on both Monday and Wednesday, although it underperformed in the market overall. These fluctuations came after Eversource Energy (ES) fell 1.19% within the week. Contributing factors may include Dynamic Advisor Solutions LLC and Gateway Investment Advisers LLC increasing their holdings in Eversource. The company also introduced a proposed underground cable modernization project, and its partnership with Ørsted has expanded a renewable ocean energy exhibit. Furthermore, Eversource is connected to UConn’s successful energy efficiency pursuits and a $4.5M DOE grant for grid reliability.

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

Eversource Energy, a public utility holding company, is looking towards a positive long-term outlook based on the Smartkarma Smart Scores. The company has scored a 4 out of 5 for both value and dividend, indicating a strong financial standing and a commitment to providing returns to its shareholders. However, the scores for growth and resilience are lower, at 2 out of 5, suggesting potential challenges in these areas. The momentum score of 3 reflects a moderate level of positive market sentiment towards the company.

Despite the lower scores in growth and resilience, Eversource Energy is still a solid player in the energy market. The company provides retail electric service to customers in Connecticut, New Hampshire, and western Massachusetts, and also distributes natural gas throughout Connecticut. With a strong focus on value and dividends, Eversource Energy is well positioned to continue providing reliable services to its customers while delivering returns to its shareholders. Investors can look forward to a stable and potentially lucrative long-term investment in this public utility holding company.

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.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma