Eversource stock: buy or sell
Updated on:
Apr 22nd, 2021
1
Eversource stock brief
- Eversource Energy closed on Wednesday at $89.53 after sliding a -1.16%.
- Looking at the chart, price is drawing an scaled downtrend since November 2020 with lower tops and lower bottoms. this downtrend marked a -6.04% loss(from its highs at $95.29).
- Credit Suisse Group and Morgan Stanley published bearish ratings for Eversource Energy on Tuesday, with an average target of $88.00
- Eversource Energy, a public utility holding company, engages in the energy delivery business.
Should I buy Eversource Energy stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $ES stock a buy?
In the current situation of Eversource Energy there is not any eligible buy setup. This doesn't mean we expect a selloff for $ES in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Eversource Energy stock?
"To sell or not to sell", if you are holding Eversource Energy stock?. Similarly to when we have to buy shares, choosing when is appropiate time to sell is not a capricious decision, and we must adhere our own trading style. When selling, as well as buying, our strategies are very easy to follow and are only applicable for selling shares you already own, not for shorting $ES stock
As a rule of thumb, you should not mantain an open trade that leads to greater losses than those expected upon purchase. The timing to sell shares must always be ruled by the stop-loss (automatic or manual)
Is it time to sell Eversource Energy stock?
Currently, Eversource Energy stock doesn't match any of our preferred sell setups, so if you own Eversource Energy stock and your operation is in profit probably is not time to sell now
Eversource Energy ratings
In the last month, 5 brokerage ratings were published for Eversource Energy. General sentiment is bearish, with 3 out of 5 publishing negative forecasts for the mid and long term
| Brokerage firm | Rating |
|---|---|
| Mar 25th, 2021 | |
| Morgan Stanley | Sell |
| Apr 8th, 2021 | |
| Mizuho | Neutral |
| Apr 14th, 2021 | |
| Mizuho | Neutral |
| Apr 20th, 2021 | |
| Credit Suisse Group | Sell |
| Morgan Stanley | Sell |
Eversource Energy stock analysis
From a technical standpoint, Eversource Energy continues trending lower since November 2020, and has lost a -6.04%. Like in all downtrends, the stock oscillates drawing lower tops and bottoms. In this case, we have seen 2 consecutive lower tops.
SMAs overview
Supports and resistances
The current resistances are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band on Tuesday, the price dropped by 1.77%. The price is moving very close to the upper Bollinger band, indicating some level of overbought in recent sessions. This is not a sell signal, as price can trade in these levels for many days and weeks
Relative strength index
After breaking out the line of 70 yesterday, fell back below with a reading of 64.62. This is a signal of weakness for the stock and it must raise our awarness of weakness in the stock price
Eversource Energy stock price history
Eversource Energy went public priced at an adjusted price1 of $0.00 on Feb 1973. Since then, ES stock surged by -, with an average of 0.00% per year. An investment of $1,000USD on the IPO would have a value of $inf nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Eversource Energy stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are posted every day by banks, financial institutions and independent analysts.
The following table shows the price target posted by brokerage institutions in the last 30 days. If you are a small trader you should not invest based on these predictions.
The average price target for Eversource Energy stock calculated from the table below is $86.25. Eversource Energy closed at $89.53 on Wednesday, that is a 3.80% than the target price.
| Brokerage firm | Price target |
|---|---|
| Mar 25th, 2021 | |
| Morgan Stanley | $79.00 → $80.00 |
| Apr 8th, 2021 | |
| Mizuho | Not available |
| Apr 14th, 2021 | |
| Mizuho | $89.00 |
| Apr 20th, 2021 | |
| Credit Suisse Group | $81.00 → $89.00 |
| Morgan Stanley | $80.00 → $87.00 |
Earnings and financials
Financial call was hosted by Eversource Energy ($ES) last February after posting the financial report. Wall St. was right in their projections regarding Eversource Energy's which published $0.85 per share. On the other hand, reported sales were $2.2 billion compared to estimates of $2.1 billion.
This compares to Earnings of $0.76 per share same quarter last year, so reported EPS means a gain of 11.84%. Looking at turnover, figures climbed a 8.95% compared to $20.5B same quarter 12 months ago.Eversource ($ES) presents quarterly financial report next Wednesday. Expected for this quarter is $1.09, compared to $0.85 that was reported for Q4.
Eversource Energy performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Eversource Energy ($ES) | 8.50% | 3.40% | -0.90% |
Important note:
The comments written in this post are personal and not recommendations for you to buy or sell shares. The author of this article does not have an understanding of the specific situations of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are published for education reasons onlyEversource summary
| Wednesday, April 21st, 2021 | |
|---|---|
| Open | $90.36 |
| Close | $89.53 |
| Day range | $89.3 - $91.2 |
| Previous close | $90.58 |
| Session gain | -1.16% |
| Average true range | $1.53 |
| 50d mov avg | $83.81 |
| 100d mov avg | $85.02 |
| 200d mov avg | $85.63 |
| Earnings date | May 5th, 2021 |