Eversource Energy (NYSE:ES) Shares Gap Down - Here's Why

Key Points

• Eversource Energy (NYSE:ES) shares gapped down from a previous close of $66.53 to open at $63.50 and last traded at $61.60 amid high trading volume of 1,429,980 shares.
• Analyst ratings on Eversource Energy show a mixed outlook, with three analysts giving a Buy rating, three a Hold rating, and three a Sell rating, resulting in an average rating of "Hold" and a consensus price target of $64.38.
• Recent quarterly earnings reported earnings per share of $0.96, slightly above analysts' estimates and an increase from the previous year's $0.95, despite a revenue miss of $2.84 billion compared to the expected $3.01 billion.

Eversource Energy (NYSE:ES - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $66.53, but opened at $63.50. Eversource Energy shares last traded at $61.60, with a volume of 1,429,980 shares.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ES shares. Mizuho boosted their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Bank of America boosted their price target on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $64.38.

Eversource Energy Trading Down 0.3%

The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The business has a fifty day simple moving average of $65.09 and a 200 day simple moving average of $62.60. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.During the same period in the prior year, the company posted $0.95 EPS. The company's revenue was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares of the company's stock, valued at $795,020.31. This represents a 45.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by company insiders.

Institutional Trading of Eversource Energy

Large investors have recently bought and sold shares of the business. Neo Ivy Capital Management acquired a new position in Eversource Energy in the 2nd quarter worth about $26,000. Trust Co. of Toledo NA OH acquired a new position in Eversource Energy in the 2nd quarter worth about $28,000. Elevation Point Wealth Partners LLC acquired a new position in Eversource Energy in the 2nd quarter worth about $31,000. Hilltop National Bank acquired a new position in Eversource Energy in the 2nd quarter worth about $32,000. Finally, Pinney & Scofield Inc. acquired a new position in Eversource Energy in the 4th quarter worth about $33,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.