Baillie Gifford & Co. reduced its stock position in
Eversource Energy (NYSE:ES). Despite a rising relative strength, ES is yet to cross a key threshold. ES draws strength from its investment and renewable expansion. A new VP of Investor Relations is announced. However, not many are piling into ES. Shares cross the
5% yield mark and the company wins $89M federal funds for an offshore wind hub in Connecticut. Q2 earnings aligned with estimates and their price target increased to $75 by Morgan Stanley. With
83% institutional ownership, ES has strong backing. Yet, the past three years have not been profitable for investors. Analysts at Scotiabank gave a new $66 price target. Q2 earnings speculated to decline while Q1 2024 earnings outperformed analyst projections. ES falls 5.2% since last earnings report. The stock declines 5.3% this week, increasing three-year losses to 21%. A fall in short interest is witnessed. Despite revenues lagging estimates in Q4, profits climbed in Q2. A definitive agreement with Ørsted was executed to sell Sunrise Wind as insiders sold US$1.9m in stock. ES is viewed as heavily dominated by institutional owners, who own 83% of the shares. ES plans a webcast for discussing first half performance.
Eversource Energy ES News Analytics from Tue, 10 May 2022 07:00:00 GMT to Sun, 25 Aug 2024 15:51:18 GMT -
Rating 1
- Innovation -6
- Information 6
- Rumor -8
