Eversource Energy (NYSE:ES) Releases FY 2024 Earnings Guidance

Eversource Energy (NYSE:ES) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.520-4.600 for the period, compared to the consensus EPS estimate of 4.560. The company issued revenue guidance of -. Eversource Energy also updated its FY24 guidance to $4.52-$4.60 EPS.

Eversource Energy Stock Performance

NYSE:ES traded down $1.95 during trading hours on Tuesday, reaching $61.45. The stock had a trading volume of 1,756,793 shares, compared to its average volume of 2,388,785. The stock has a market cap of $21.96 billion, a P/E ratio of -234.81, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. The stock has a 50 day simple moving average of $66.35 and a 200 day simple moving average of $62.82. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly 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. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the company posted $0.97 EPS. Eversource Energy’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.65%. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ES. Bank of America raised their price target on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley raised their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho lifted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays increased their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.07.

Insiders Place Their Bets

In related news, 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 transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated 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 owns 9,847 shares in the company, valued at $639,464.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $53,382.50. Following the sale, the executive vice president now directly 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. 0.29% of the stock is owned by corporate insiders.

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.