Q3 Earnings Forecast for Eversource Energy Issued By KeyCorp

Eversource Energy (NYSE:ES) – Research analysts at KeyCorp boosted their Q3 2024 EPS estimates for Eversource Energy in a research note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $1.12 per share for the quarter, up from their prior estimate of $1.03. The consensus estimate for Eversource Energy’s current full-year earnings is $4.57 per share. KeyCorp also issued estimates for Eversource Energy’s Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $4.56 EPS, FY2025 earnings at $4.80 EPS, FY2026 earnings at $5.10 EPS and FY2028 earnings at $5.76 EPS.

A number of other analysts have also recently weighed in on the stock. Scotiabank boosted their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley upped their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Barclays increased their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $67.09 on Thursday. The firm has a fifty day simple moving average of $66.49 and a 200-day simple moving average of $62.43. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The stock has a market capitalization of $23.63 billion, a price-to-earnings ratio of -56.86, a PEG ratio of 2.49 and a beta of 0.61.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $1.00 earnings per share. Eversource Energy’s revenue for the quarter was down 3.7% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Eversource Energy by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after acquiring an additional 20,207 shares during the period. Bank of New York Mellon Corp raised its position in shares of Eversource Energy by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after acquiring an additional 354,429 shares during the period. ClearBridge Investments Ltd acquired a new stake in shares of Eversource Energy in the 1st quarter valued at approximately $156,093,000. Finally, Zimmer Partners LP raised its position in shares of Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after acquiring an additional 2,231,585 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -242.37%.

About Eversource Energy

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.