Eversource Energy (NYSE:ES) Updates FY24 Earnings Guidance

Eversource Energy (NYSE:ES) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.52-$4.60 for the period, compared to the consensus estimate of $4.56. Eversource Energy also updated its FY 2024 guidance to 4.520-4.600 EPS.

Eversource Energy Stock Down 2.4 %

Shares of ES stock traded down $1.53 on Tuesday, reaching $61.87. 235,531 shares of the stock were exchanged, compared to its average volume of 2,381,677. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of -234.81, a PEG ratio of 2.48 and a beta of 0.61. The business’s 50 day moving average price is $66.35 and its 200 day moving average price is $62.82.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm 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 0.81% and a positive return on equity of 10.34%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. As a group, sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.62%. Eversource Energy’s dividend payout ratio (DPR) is -1,059.26%.

Analyst Ratings Changes

ES has been the topic of a number of analyst reports. Barclays lifted their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective 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. Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets dropped their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.07.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, 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 can be accessed through this link. In other news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Penelope M. Conner sold 815 shares of the business’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 completion of the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.