Eversource Energy Monthly Report
Published Date: September 22, 2024
Company Overview
Eversource Energy (ES) is a prominent public utility holding company based in Springfield, Massachusetts, specializing in energy delivery through various segments including Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. With services extending across Connecticut, Massachusetts, and New Hampshire, Eversource serves approximately 241,000 regulated water customers. Established in 1927 as Northeast Utilities, the company has adapted to the evolving energy landscape while maintaining a commitment to reliable service. The regulated electric utilities sector offers promising growth opportunities, reflected in Eversource’s impressive total revenue of approximately $11.35 billion, making it a compelling option for investors.
Stock Performance and Analysis
Eversource Energy’s current share price is $67.14, indicating notable upside potential towards a target high price of $94.00 set by analysts, fueling a robust buy recommendation. The mean target price stands at $73.26, suggesting optimistic yet moderated growth expectations. Notably, with 357,384,992 shares outstanding and only 4,550,668 shares held short (about 0.0166% of the float), investor confidence appears solid in the company’s performance. The low short interest reflects a positive sentiment, minimizing bearish tendencies among traders.
The stock maintains a position above its fifty-day moving average of $65.50, indicating an encouraging short-term trend while nearing its fifty-two week high of $69.01. This upward trajectory is even more impressive considering the fifty-two week low of $52.03, showcasing a substantial recovery and resilience in the market. Analysts’ consensus, supported by contributions from 16 experts, reinforces the bullish sentiment toward Eversource Energy, demonstrating strong investor interest in its growth potential.
In summary, Eversource Energy presents a solid investment opportunity, with an attractive blend of stability and growth potential grounded in its strong financial performance, making it a favored choice within the utilities sector.
| Metric | Value |
|---|---|
| Market Cap | $24.0b |
| Total Debt | $29.0b |
| Total Cash | $33.4m |
| Shares Outstanding | 357.4m |
| Float Shares | 356.2m |
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