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Eversource Energy (D/B/A) ($ES) Stock Forecast: Up 5.4% Today

Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.

What is Eversource Energy (D/B/A)?

Eversource Energy (ES) is a company operating in the energy sector and provides electricity and natural gas services within the United States. The stock experienced a significant upward movement today.

Why is Eversource Energy (D/B/A) going up?

ES stock is up 5.4% on Feb 14, 2024 19:46

  • The fourth quarter earnings and revenues of Eversource Energy fell short of expectations, which could potentially impact the stock. However, the adjusted earnings showed an increase compared to the previous year.
  • The company's decision to sell its shares in two wind projects to GIP IV Whale Fund Hold could be a contributing factor to the positive stock movement. This move may indicate a strategic decision to focus on other aspects of the company's operations.
  • The deviation from consensus on earnings and revenues could be attributed to the company's exit from offshore wind ventures and its intention to divest its water distribution business. These actions reflect a shift in priorities for Eversource Energy.
  • Overall, despite the missed estimates, the market appears to have responded favorably to the company's strategic choices and the potential growth prospects of its various business segments.

ES Price Chart

ES News

Eversource Energy ( ES ) Q4 Earnings and Revenues Lag Estimates

Eversource Energy's (ES) fourth-quarter earnings and revenues miss estimates, while growth is seen in segmental businesses.

https://www.zacks.com/stock/news/2225942/eversource-energy-es-q4-earnings-and-revenues-lag-estimates

News Article Image Eversource Energy  ( ES )  Q4 Earnings and Revenues Lag Estimates

Eversource's Q4 Earnings Miss, Offshore Wind Business Exit, Eyes Water Distribution Business Sale & More What's Going On With Eversource Energy ( ES ) Shares Today? - Eversource Energy ( NYSE:ES )

Eversource Energy ES shares are trading higher after the company reported fourth-quarter FY23 revenue of $2.69 billion, missing the consensus of $3.24 billion. Adjusted earnings rose to $333.5 million from $322.3 million a year ago. Adjusted EPS of $0.95 missed the consensus of $0.97.

https://www.benzinga.com/news/earnings/24/02/37119674/eversources-q4-earnings-miss-offshore-wind-business-exit-eyes-water-distribution-business-sale-more

News Article Image Eversource's Q4 Earnings Miss, Offshore Wind Business Exit, Eyes Water Distribution Business Sale & More What's Going On With Eversource Energy  ( ES )  Shares Today? - Eversource Energy  ( NYSE:ES )

Eversource Energy Sells Wind Projects to GIP IV Fund

Eversource Energy (ES) has released an update. Eversource Energy has inked a deal to sell its stakes in two wind projects to GIP IV Whale Fund Hold…

https://www.tipranks.com/news/company-announcements/eversource-energy-sells-wind-projects-to-gip-iv-fund

News Article Image Eversource Energy Sells Wind Projects to GIP IV Fund

Eversource Energy’s Q4 2023 Results Webcast Announcement

Eversource Energy (ES) has released an update. Eversource Energy is set to host a webcasted conference call on February 14, 2024, where senior mana…

https://www.tipranks.com/news/company-announcements/eversource-energys-q4-2023-results-webcast-announcement

News Article Image Eversource Energy’s Q4 2023 Results Webcast Announcement

Eversource Energy Non-GAAP EPS of $0.95 misses by $0.50, revenue of $2.69B misses by $960M

No summary available.

https://seekingalpha.com/news/4066500-eversource-energy-non-gaap-eps-of-095-misses-by-050-revenue-of-269b-misses-by-960m?feed_item_type=news

News Article Image Eversource Energy Non-GAAP EPS of $0.95 misses by $0.50, revenue of $2.69B misses by $960M

Eversource Energy (D/B/A) Price History

14.01.2024 - ES Stock was up 5.4%

  • The fourth quarter earnings and revenues of Eversource Energy fell short of expectations, which could potentially impact the stock. However, the adjusted earnings showed an increase compared to the previous year.
  • The company's decision to sell its shares in two wind projects to GIP IV Whale Fund Hold could be a contributing factor to the positive stock movement. This move may indicate a strategic decision to focus on other aspects of the company's operations.
  • The deviation from consensus on earnings and revenues could be attributed to the company's exit from offshore wind ventures and its intention to divest its water distribution business. These actions reflect a shift in priorities for Eversource Energy.
  • Overall, despite the missed estimates, the market appears to have responded favorably to the company's strategic choices and the potential growth prospects of its various business segments.

14.01.2024 - ES Stock was up 5.3%

  • Fourth-quarter earnings and revenues of Eversource Energy fell short of expectations, potentially impacting the stock. However, adjusted earnings saw an increase compared to the previous year.
  • The company's decision to sell its shares in two wind projects to GIP IV Whale Fund Hold could have bolstered investor sentiment, contributing to the positive movement in the stock.
  • Despite the revenue shortfall, Eversource Energy expressed confidence that its adjusted EPS for FY24 will surpass expectations, which may have further contributed to the stock's positive movement.
  • The overall market sentiment surrounding Eversource Energy's departure from the offshore wind business and potential sale of its water distribution business might have also influenced the stock's positive movement.

10.00.2024 - ES Stock was down 7.7%

  • The bearish movement in ES today can be attributed to the following factors:
  • 1. Divestment of wind assets: Eversource Energy is in advanced talks to sell its stake in three offshore wind projects, which is expected to result in impairment costs of $1.6 billion. This news of divestment and potential charges could have negatively impacted investor sentiment, leading to the bearish movement in ES.
  • 2. Market reaction to utility movers: ES was among the losers in the utility sector, which saw a decline of 0.57%. The negative performance of the sector as a whole could have influenced the bearish movement in ES.
  • 3. Uncertainty in the energy sector: The overall market for utility companies has been experiencing volatility, and this could have contributed to the bearish movement in ES. Investors may be cautious due to various factors such as regulatory changes, market competition, and shifts in energy policies.
  • In summary, the bearish movement in ES today can be attributed to the divestment of wind assets, impairment charges, negative performance in the utility sector, and overall uncertainty in the energy market.

12.09.2023 - ES Stock was down 5.1%

  • The stock of Constellation Energy (CEG) experienced a strong bearish movement today. This could be attributed to several factors:
  • 1. Industry Comparison: The article highlights the importance of assessing companies in the Electric Utilities industry. If Constellation Energy's performance is deemed weaker compared to its competitors, it could have contributed to the bearish movement of its stock.
  • 2. Financial Indicators: The article mentions a detailed analysis of important financial indicators. If these indicators reflect a decline in Constellation Energy's financial performance, it could have influenced the bearish market movement.
  • 3. Market Standing: The article discusses evaluating Constellation Energy's market standing. If the assessment reveals a decrease in market share or a loss of competitive advantage, it could have impacted the bearish movement of the stock.
  • 4. Growth Potential: The article emphasizes evaluating the growth potential of Constellation Energy. If the analysis suggests a lack of promising growth prospects, it could have contributed to the bearish market movement.
  • Overall, the bearish movement of Constellation Energy's stock today could be attributed to factors such as weaker performance compared to competitors, unfavorable financial indicators, a decline in market standing, and a lack of promising growth potential.

03.09.2023 - ES Stock was down 5.8%

  • The bearish movement in ES today could be attributed to the negative sentiment surrounding utility stocks, as indicated by the articles. Here's what might have caused the market movement:
  • The article titled "Ticking Time Bombs: 3 Utilities Stocks to Dump Before the Damage Is Done" suggests that savvy investors may want to consider selling utilities stocks, potentially leading to a decrease in demand for ES shares.
  • The article "Is Eversource Energy (ES) Too Good to Be True? A Comprehensive Analysis of a Potential Value Trap" raises concerns about ES being a value trap, which could have triggered selling pressure on the stock.
  • The overall market sentiment towards utilities stocks being mispriced and the focus on tech and growth companies, as mentioned in an article from Investor Place, could have diverted investor attention away from ES, contributing to the bearish movement.
  • In summary, the negative sentiment towards utilities stocks and concerns about ES being a value trap likely influenced the bearish movement in ES today.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.