Eversource Energy (NYSE:ES – Get Rating) – Analysts at KeyCorp decreased their Q3 2022 earnings per share estimates for Eversource Energy in a research report issued on Wednesday, May 25th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $1.02 for the quarter, down from their prior forecast of $1.06. KeyCorp also issued estimates for Eversource Energy’s FY2022 earnings at $4.11 EPS.
Eversource Energy (NYSE:ES – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Eversource Energy had a return on equity of 9.52% and a net margin of 12.32%. Eversource Energy’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 EPS.
Shares of ES opened at $92.19 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.57 and a current ratio of 0.62. The stock has a 50 day simple moving average of $89.69 and a 200 day simple moving average of $87.20. Eversource Energy has a 52-week low of $78.44 and a 52-week high of $94.63. The firm has a market capitalization of $31.79 billion, a PE ratio of 24.52, a P/E/G ratio of 3.50 and a beta of 0.42.
A number of hedge funds have recently modified their holdings of ES. BlackRock Inc. increased its holdings in Eversource Energy by 19.3% in the fourth quarter. BlackRock Inc. now owns 39,646,912 shares of the utilities provider’s stock worth $3,607,077,000 after purchasing an additional 6,402,262 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Eversource Energy by 116,073.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,298,400 shares of the utilities provider’s stock valued at $351,437,000 after acquiring an additional 4,294,700 shares during the period. Nordea Investment Management AB grew its stake in Eversource Energy by 1,746.9% in the first quarter. Nordea Investment Management AB now owns 4,002,400 shares of the utilities provider’s stock valued at $355,813,000 after acquiring an additional 3,785,686 shares during the period. Public Sector Pension Investment Board grew its stake in Eversource Energy by 356.0% in the fourth quarter. Public Sector Pension Investment Board now owns 2,889,176 shares of the utilities provider’s stock valued at $262,857,000 after acquiring an additional 2,255,575 shares during the period. Finally, Norges Bank acquired a new stake in Eversource Energy in the fourth quarter valued at approximately $197,480,000. Institutional investors and hedge funds own 80.74% of the company’s stock.
In other news, EVP Penelope M. Conner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $91.75, for a total transaction of $367,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,979 shares in the company, valued at $456,823.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cotton M. Cleveland sold 1,859 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $84.00, for a total value of $156,156.00. The disclosure for this sale can be found here. Insiders have sold 12,162 shares of company stock worth $1,091,988 over the last three months. Insiders own 0.38% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, May 19th will be paid a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, May 18th. Eversource Energy’s payout ratio is 67.82%.
Eversource Energy Company Profile (Get Rating)
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.
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