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

Eversource Energy (NYSE:ES) released its quarterly earnings data on Monday. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the business earned $0.97 EPS. Eversource Energy’s 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 Trading Up 0.9 %

Shares of ES traded up $0.54 during midday trading on Thursday, hitting $61.24. The stock had a trading volume of 750,396 shares, compared to its average volume of 2,403,699. The stock’s 50 day moving average is $66.14 and its 200 day moving average is $62.82. The firm has a market cap of $21.89 billion, a PE ratio of -38.66, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. 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 Dividend Announcement

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

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction 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 completion of the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the 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 sale, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The trade was 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.

Analysts Set New Price Targets

Several equities analysts have issued reports on ES shares. Barclays upped their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley increased their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Mizuho upped their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.07.

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.