What is Scotiabank’s Forecast for ES FY2024 Earnings?

Eversource Energy (NYSE:ES) – Stock analysts at Scotiabank issued their FY2024 EPS estimates for Eversource Energy in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel forecasts that the utilities provider will post earnings per share of $4.57 for the year. Scotiabank currently has a “Sector Underperform” rating and a $56.00 target price on the stock. The consensus estimate for Eversource Energy’s current full-year earnings is $4.56 per share. Scotiabank also issued estimates for Eversource Energy’s FY2025 earnings at $4.85 EPS.

ES has been the subject of several other research reports. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. BMO Capital Markets reduced their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Jefferies Financial Group started coverage on Eversource Energy in a research note on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price objective for the company. Finally, Barclays lifted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.38.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $56.02 on Monday. The company has a market capitalization of $20.53 billion, a PE ratio of -35.68, a price-to-earnings-growth ratio of 2.38 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The stock has a fifty day moving average of $59.64 and a 200-day moving average of $62.94. Eversource Energy has a one year low of $52.09 and a one year high of $69.01.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS.

Hedge Funds Weigh In On Eversource Energy

Several institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of Eversource Energy during the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new stake in Eversource Energy during the third quarter worth approximately $32,000. UMB Bank n.a. grew its holdings in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in shares of Eversource Energy in the third quarter valued at approximately $48,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date was Wednesday, December 18th. Eversource Energy’s dividend payout ratio is presently -182.17%.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.