Why Eversource Energy Stock Was Wilting This Week
Recently, it seemed almost like someone shut the lights off on Eversource Energy (NYSE: ES) stock. Investors traded out of the regional New England electric and natural gas utility in a rout that began on Wednesday, following a regulator's decision. Week-to-date as of mid-afternoon Friday the company's shares were down nearly 12% in price, according to data compiled by S&P Global Market Intelligence.
On Wednesday, Connecticut's Public Utilities Regulatory Authority (PURA) turned down Eversource's proposed sale of its water utility unit, Aquarion. This was to be a major deal -- the company had agreed to divest it to a quasi-public corporation in the state, the Aquarion Water Authority, in a transaction valued at around $2.4 billion.
Source Fool.com
Eversource Energy Stock
With 13 Buy predictions and not the single Sell prediction the community is currently very high on Eversource Energy.
On the other hand, the target price of 16 € is below the current price of 60.0 € for Eversource Energy, so the potential is actually -73.33%.
