Eversource Energy (NYSE:ES) Releases Earnings Results, Beats Estimates By $0.05 EPS

Eversource Energy (NYSE:ES) posted its quarterly earnings data on Monday. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05, Briefing.com reports. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 11.00%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $0.97 EPS. The company’s quarterly revenue 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 Up 0.9 %

ES stock traded up $0.54 during trading on Thursday, reaching $61.24. 750,396 shares of the stock were exchanged, compared to its average volume of 2,403,699. 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 firm’s 50 day moving average is $66.14 and its 200 day moving average is $62.82. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The firm has a market cap of $21.89 billion, a P/E ratio of -38.66, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.67%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

Insiders Place Their Bets

In related 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the 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 in the company, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ES shares. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho boosted their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lowered 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 research report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.