Eversource Energy (NYSE:ES) Posts Earnings Results, Beats Expectations 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 analysts’ consensus estimates of $1.08 by $0.05, Briefing.com reports. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. 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 Performance

Eversource Energy stock opened at $61.17 on Wednesday. The company has a market cap of $21.86 billion, a PE ratio of -39.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company’s 50-day moving average price is $66.26 and its 200-day moving average price is $62.84. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is presently -182.17%.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 sale, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now directly 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. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ES has been the subject of a number of analyst reports. Bank of America raised their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Scotiabank upped their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays increased their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus 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.