Eversource Energy (ES) has risen sharply, recording gains of 1.72% in the past 4 weeks. However, the stock has corrected -2.85% in the past 1 week, providing a good buying opportunity on dips. Eversource Energy (ES) : During the past 4 weeks, traders have been relatively bearish on Eversource Energy (ES), hence the stock is down -2.54% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -4.28% relative to the S&P 500. The stock has recorded a 20-day Moving Average of 0.71% and the 50-Day Moving Average is 1.76%.
Eversource Energy (NYSE:ES): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $57.81 and $57.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $58.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $57.87, notching a gain of 0.21% for the day. The total traded volume was 1,560,886 . The stock had closed at $57.75 on the previous day.
The company Insiders own 0.89% of Eversource Energy shares according to the proxy statements. Institutional Investors own 70.18% of Eversource Energy shares. During last six month period, the net percent change held by insiders has seen a change of -17.82%. 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.