Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eversource Energy shares valued at $456,625 were sold by BUTLER GREGORY B on Aug 29. At $91.33 per share, BUTLER GREGORY B sold 5,000 shares. The insider’s holdings dropped to 71,814 shares worth approximately $6.32 million following the completion of this transaction.
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Also, BUTH JAY S. sold 650 shares, netting a total of over 60,158 in proceeds. Following the sale of shares at $92.55 each, the insider now holds 17,516 shares.
Before that, Conner Penelope M had sold 4,000 shares from its account. In a trade valued at $367,000, the EVP-Cust Exp & Energy Strategy traded Eversource Energy shares for $91.75 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $0.44 million.
As published in a research note from Wolfe Research on August 01, 2022, Eversource Energy [ES] has been rated up from a Peer perform to an Outperform and the price target has been revised to $96. This represents a 8.34% premium over Thursday’s closing price. Analysts at Guggenheim upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early July. As of April 26, 2022, Credit Suisse has initiated its “Neutral” rating for ES. Earlier on March 09, 2022, Wolfe Research downgraded its rating. Their new recommendation was “a Peer perform” for ES stock which previously was a “an Outperform”.
Analyzing ES’s Price Performance
On Thursday, Eversource Energy [NYSE: ES] rose 0.18% to $87.99. The stock’s lowest price that day was $86.79, but it reached a high of $88.63 in the same session. During the last five days, there has been a drop of approximately -0.23%. Over the course of the year, Eversource Energy shares have dropped approximately -3.29%. Shares of the company reached a 52-week high of $94.63 on 04/21/22 and a 52-week low of $77.07 on 06/17/22. A 50-day SMA is recorded $89.49, while a 200-day SMA reached $87.83. Nevertheless, trading volume fell to 1.45 million shares from 1.12 million shares the previous day.
Support And Resistance Levels for Eversource Energy (ES)
According to the 24-hour chart, there is a support level at 86.98, which, if violated, would cause prices to drop to 85.96. In the upper region, resistance lies at 88.82. The next price resistance is at 89.64. RSI (Relative Strength Index) is 42.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.67, which suggests the price will decrease in the coming days. Percent R is at 80.03%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Eversource Energy subject to short interest?
Stocks of Eversource Energy saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.46 million shares to 4.21 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.75 million shares. A jump of 10.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.47 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.47.
Which companies own the most shares of Eversource Energy (ES)?
According to The Vanguard Group, Inc. filings, the company currently owns 42,005,079 shares, which is about 12.13% of the total ES shares outstanding. The investor’s shares have appreciated by 826,961 from its previous 13-F filing of 41178118.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $2,213,836,926. BlackRock Fund Advisors acquire a 2.36% interest valued at $2.06 billion while Magellan Asset Management Ltd. sold a -1,278,465 stake. A total of 254,645 shares of Eversource Energy were sold by Geode Capital Management LLC during the quarter, and 12,079 were bought by Charles Schwab Investment Managem. In its current portfolio, Wells Fargo Clearing Services LLC holds 6,129,944 shares valued at $549.79 million.
In terms of Eversource Energy share price expectations, FactSet research, analysts set an average price target of $94.56 in the next 12 months, up nearly 7.02% from the previous closing price of $87.83. Analysts anticipate Eversource Energy stock to reach $104.00 by 2022, with the lowest price target being $88.00. In spite of this, 19 analysts ranked Eversource Energy stock as a Hold at the end of 2022. On February 23, 2022, BofA Securities assigned a price target of “an Underperform” to the stock and downgraded coverage with a $80.