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

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

Analysts Set New Price Targets

Several analysts recently commented on ES shares. Mizuho lifted their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Bank of America boosted their price target on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note 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. Morgan Stanley raised their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets reduced 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.07.

Eversource Energy Price Performance

Shares of ES traded down $1.95 during trading hours on Tuesday, reaching $61.45. 1,756,793 shares of the stock traded hands, compared to its average volume of 2,388,785. Eversource Energy has a 52-week low of $52.09 and a 52-week 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 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 company’s 50-day moving average price is $66.35 and its two-hundred day moving average price is $62.82.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

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

Insider Activity

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’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 sale, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Penelope M. Conner sold 500 shares of the 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 directly owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Company 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.