Eversource Energy (NYSE:ES) Issues Earnings Results, Beats Estimates By $0.01 EPS

Eversource Energy (NYSE:ES) released its quarterly earnings data on Tuesday. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01, Zacks reports. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%.

Eversource Energy Stock Up 1.9 %

NYSE:ES traded up $1.12 during midday trading on Tuesday, reaching $61.61. The company had a trading volume of 3,071,870 shares, compared to its average volume of 2,966,120. The stock’s fifty day simple moving average is $57.93 and its 200-day simple moving average is $62.72. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a 12-month low of $53.76 and a 12-month high of $69.01. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of -39.24, a PEG ratio of 2.25 and a beta of 0.62.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.89%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is currently -182.17%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ES shares. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their price target for the company from $66.00 to $56.00 in a research report on Thursday, December 12th. Barclays dropped their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. BMO Capital Markets lowered their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Jefferies Financial Group reduced their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.42.

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.