Eversource Energy (NYSE:ES) Issues Earnings Results

Eversource Energy (NYSE:ES) posted its quarterly earnings data on Monday. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05, Briefing.com reports. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business posted $0.97 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Eversource Energy updated its FY24 guidance to $4.52-$4.60 EPS and its FY 2024 guidance to 4.520-4.600 EPS.

Eversource Energy Stock Down 2.1 %

ES stock opened at $62.07 on Wednesday. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The firm has a market capitalization of $22.18 billion, a PE ratio of -39.54, a PEG ratio of 2.48 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The stock has a 50-day simple moving average of $66.26 and a two-hundred day simple moving average of $62.84.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.61%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts recently commented on ES shares. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Bank of America boosted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets decreased their price objective 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. Scotiabank boosted their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley raised their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.07.

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.