Eversource Energy (ES) is not only making strategic moves into renewable energy but is also gaining from investments. This transition is backed by an impressive institutional ownership of 82-83% and analysts consensus rating of 'Hold'. Despite being considered undervalued, with its intrinsic value potentially 43% above its share price, Eversource still has some challenges to overcome. The company has had a series of earnings misses and share price weaknesses, leading to a sales lag in Q1 2024. Further, the company's three-year performance has been profitable for investors. At the same time, there have been instances of insider selling worth $1.9m, possibly alluding to weakness. Eversource's exit from offshore wind investments marks another key strategic decision, casting its enthusiasm in renewable energy in a new light. While it has shown inadequate financial performance so far, its commitment to becoming carbon neutral by 2030 is a positive trait. Recent leadership changes – notably the appointment of Paul Chodak III as EVP & COO, and Joe Nolan as CEO – also bring a fresh perspective to Eversource's future endeavors. Meanwhile, the sale of Aquarion Water Company pushes Eversource onto a new trajectory.
Eversource Energy ES News Analytics from Thu, 23 Jun 2016 07:00:00 GMT to Sun, 07 Jul 2024 13:15:14 GMT -
Rating -2
- Innovation 4
- Information 7
- Rumor 3
