Eversource Energy (ES) continues on directed growth, focusing on renewable energy and regulatory framework. The company has been receiving strong institutional backing, owning 83% of shares. Eversource's strategy has visualized improved prospects as seen by BMO Capital Markets and Mizuho analysts increasing the price target to $74.00 and $73.00 respectively. The company is seen to match Q2 earnings estimates and also outperform Q1 2024 projections. Despite a $520M loss in Q3 mainly due to offshore wind sale, it still successfully exited the offshore wind business, signaling a streamlined focus on core activities. It continues to attract investors like Clearbridge Investments, and Squarepoint Ops who are raising stakes in Eversource Energy. Yet, its short interest has significantly declined and receives a consensus "Hold" recommendation. The company has faced some stock sell-offs, possibly indicating impending weakness. Recent disclosure reveals insiders selling US$1.9M worth of stock. Notably, Eversource Energy announced that it has fully exited its offshore wind investments and closed the sale of Sunrise Wind. On the dividend front, the company has consistently raised its dividend for 24 successive years.
Eversource Energy ES News Analytics from Tue, 26 Jul 2022 07:00:00 GMT to Sat, 05 Oct 2024 12:31:35 GMT -
Rating 2
- Innovation 5
- Information 8
- Rumor -7
