Recent **developments** highlight the **uncertain financial trajectory** of **Eversource Energy (ES)**, despite its broad **institutional backing**. **nVerses Capital LLC** has purchased 8,500 shares, and **Bensler LLC** and the **Easterly Investment Partners LLC** have also boosted their shares. Nevertheless, the firm's shares continue to post losses; within the last three weeks, the stock has declined by 5.3%, extending the three-year total loss to 21%. Insiders have offloaded roughly $1.9 million in stock, hinting potential weakness. Despite a considerable institutional ownership, the market remains relatively cautious. **Q2 2024 earnings estimates** seem to align with the dismal forecast. Although ES profits have climbed in this quarter, and the firm has gained from a **renewable expansion**, sales have consistently lagged behind estimates. **Mixed signals** arise as **stock upgrades** coincide with slashed price targets, and as Q2 earnings match estimates, they're also expected to decline. ES has recently closed on the sale of Sunrise Wind and will profit from further renewable investments. However, the firm's ongoing high debt load could negatively affect its outlook. The impending exit from offshore wind JV with Ørsted suggests a retrenchment strategy, complemented by recent executive leadership changes.
Eversource Energy ES News Analytics from Wed, 04 May 2022 07:00:00 GMT to Sat, 31 Aug 2024 21:53:54 GMT -
Rating -7
- Innovation -4
- Information 4
- Rumor -5
