Eversource Energy (NYSE:ES) has seen a mix of positive and negative developments. The company had an underperformance compared to its competitors' stocks on certain days but hit a 1-year high at $68.89 recently. Despite this, the past three years have not been profitable for its investors, especially as the stock declined 5.3% this week. Although analysts hold an average 'hold' rating for the stock, it has seen strong institutional backing at 83%.
Although Q2 earnings are expected to decline, they were in line with the estimates, outperforming analysts projections first quarter of 2024. Institutional ownership is high, but insiders have recently sold their stocks, potentially indicating weakness.
Despite reporting losses from the past, Eversource Energy has many promising projects. The company is on track to gain from further investments as well as a renewable expansion. It has closed the sale of Sunrise Wind and has also decided to sell its stake in two offshore wind projects for $1.1 billion. On the strategic front, Eversource Energy has been focusing on its SWOT insights, thereby preparing itself to overcome any potential challenges. However, due to a surprise loss, analysts have revised their forecasts for this company.
Eversource Energy ES News Analytics from Wed, 04 May 2022 07:00:00 GMT to Sun, 08 Sep 2024 13:21:53 GMT - Rating -1 - Innovation 5 - Information 6 - Rumor -3
