Eversource Energy (NYSE:ES) Issues Earnings Results

Eversource Energy (NYSE:ES) issued its quarterly earnings data on Monday. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05, Briefing.com reports. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. 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 Down 3.1 %

ES traded down $1.98 during trading on Tuesday, reaching $61.42. The company had a trading volume of 1,994,401 shares, compared to its average volume of 2,389,896. The company has a market cap of $21.95 billion, a P/E ratio of -234.81, a PEG ratio of 2.48 and a beta of 0.61. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The business’s fifty day moving average price is $66.35 and its 200 day moving average price is $62.82.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.66%. Eversource Energy’s payout ratio is -1,059.26%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ES. Morgan Stanley lifted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Bank of America upped their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Mizuho raised their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Scotiabank lifted their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.07.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was 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. This 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 currently owned by insiders.

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.