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

Eversource Energy (NYSE:ES) updated its FY 2024 earnings guidance on Monday. 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

A number of brokerages have issued reports on ES. Wells Fargo & Company upped their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Mizuho raised their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Up 1.0 %

Eversource Energy stock traded up $0.59 during mid-day trading on Thursday, reaching $61.29. The stock had a trading volume of 1,662,171 shares, compared to its average volume of 2,407,920. 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 fifty-two week low of $52.09 and a fifty-two week high of $69.01. The stock’s 50-day simple moving average is $66.14 and its 200-day simple moving average is $62.82. The firm has a market capitalization of $21.90 billion, a PE ratio of -38.66, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a positive return on equity of 11.00% and a negative net margin of 4.73%. Eversource Energy’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. On average, sell-side analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

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

Insider Activity 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 stock was 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

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.