Large Inflow of Money Detected in Eversource Energy

Eversource Energy (ES) : $11.3 million worth of transactions were on upticks in Eversource Energy (ES), compared to $5.26 million on downticks. The ratio between the two was 2.15, whereas, the net money flow stood at a healthy $6.03 million on Wednesdays session. The consistent buying on upticks in the stock accounted for $5.15million worth of trades. The total money flow into the stock stood at $5.15 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.33%. The stock was trading at $57.9, with a drop of $0.19 over the previous days close. The stock recorded 0.05% for the week.


Also, In the latest statement by the brokerage house, Barclays maintains its outlook on Eversource Energy (NYSE:ES). The current rating of the shares is Equalweight, according to the research report released by the firm. The brokerage firm raises the price target from $62 per share to $65 per share. The rating by the firm was issued on July 7, 2016.

Eversource Energy (NYSE:ES): The stock opened at $58.16 on Wednesday but the bulls could not build on the opening and the stock topped out at $58.17 for the day. The stock traded down to $57.77 during the day, due to lack of any buying support eventually closed down at $57.90 with a loss of -0.33% for the day. The stock had closed at $58.09 on the previous day. The total traded volume was 811,875 shares.

The stock has recorded a 20-day Moving Average of 0.96% and the 50-Day Moving Average is 1.69%. In a related news, Schweiger Werner J, officer (Executive VP and COO) of Eversource Energy, unloaded 10,000 shares at an average price of $57 on March 8, 2016. The total amount of the transaction was worth $570,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Companys electric distribution segment provides electricity to retail customers in Connecticut and eastern Massachusetts. The electric transmission segment owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England. The natural gas distribution segment provides firm natural gas sales service to retail customers who require a continuous natural gas supply throughout the year, such as residential customers who rely on natural gas for heating, hot water and cooking needs, and commercial and industrial customers who choose to purchase natural gas from the Companys natural gas distribution companies.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.