Eversource Energy (NYSE:ES) Releases FY24 Earnings Guidance

Eversource Energy (NYSE:ES) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.52-$4.60 for the period, compared to the consensus estimate of $4.56. Eversource Energy also updated its FY 2024 guidance to 4.520-4.600 EPS.

Eversource Energy Price Performance

Shares of NYSE ES traded down $0.27 during midday trading on Monday, reaching $63.40. The stock had a trading volume of 2,063,329 shares, compared to its average volume of 2,391,751. 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. The stock has a 50-day moving average of $66.42 and a 200-day moving average of $62.79. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of -235.81, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

Eversource Energy Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.51%. Eversource Energy’s dividend payout ratio is presently -1,059.26%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ES shares. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. BMO Capital Markets reduced 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. Barclays upped their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average price target of $70.07.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction 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 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 815 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was 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 owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction 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 owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. 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 0.41% 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.