Eversource Energy (NYSE:ES) Announces Quarterly Earnings Results

Eversource Energy (NYSE:ES) issued its quarterly earnings data on Monday. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.06 billion. During the same period last year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. 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 %

Shares of NYSE ES opened at $62.07 on Wednesday. The firm has a market cap of $22.18 billion, a PE ratio of -39.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. The company has a 50 day simple moving average of $66.26 and a 200 day simple moving average of $62.84. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01.

Eversource Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets lowered their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Bank of America raised their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.07.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred on Friday, August 9th. The stock was 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 $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 approximately $591,596. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 500 shares of the firm’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 value of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.