Equities Analysts Offer Predictions for Eversource Energy’s Q1 2023 Earnings (NYSE:ES)

Eversource Energy (NYSE:ES – Get Rating) – Investment analysts at KeyCorp issued their Q1 2023 earnings estimates for shares of Eversource Energy in a research note issued on Friday, March 10th. KeyCorp analyst S. Karp forecasts that the utilities provider will earn $1.47 per share for the quarter. The consensus estimate for Eversource Energy’s current full-year earnings is $4.37 per share. KeyCorp also issued estimates for Eversource Energy’s Q2 2023 earnings at $0.83 EPS, Q3 2023 earnings at $1.07 EPS, Q4 2023 earnings at $1.02 EPS, FY2024 earnings at $4.68 EPS and FY2027 earnings at $5.45 EPS.

ES has been the subject of a number of other research reports. Wolfe Research cut shares of Eversource Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 21st. Evercore ISI raised shares of Eversource Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $86.00 to $92.00 in a research report on Tuesday, January 24th. Wells Fargo & Company decreased their target price on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. BMO Capital Markets cut their price target on shares of Eversource Energy from $89.00 to $86.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 15th. Finally, Citigroup cut their price target on shares of Eversource Energy from $91.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, February 16th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $89.00.

Eversource Energy Trading Down 1.9 %

NYSE:ES opened at $72.88 on Monday. Eversource Energy has a 52 week low of $70.54 and a 52 week high of $94.63. The firm has a 50 day moving average of $80.12 and a 200 day moving average of $81.40. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 2.56 and a beta of 0.45.

Eversource Energy (NYSE:ES – Get Rating) last announced its quarterly earnings results on Monday, February 13th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). Eversource Energy had a return on equity of 9.38% and a net margin of 11.43%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company posted $0.91 EPS. Eversource Energy’s revenue for the quarter was up 22.1% on a year-over-year basis.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 2nd will be paid a $0.675 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.64. Eversource Energy’s dividend payout ratio is presently 66.83%.

Insider Transactions at Eversource Energy

In other news, insider Frederica M. Williams sold 1,943 shares of the stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $78.83, for a total value of $153,166.69. Following the sale, the insider now owns 20,763 shares in the company, valued at $1,636,747.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Eversource Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC purchased a new position in Eversource Energy during the fourth quarter valued at $25,000. Delta Asset Management LLC TN acquired a new stake in shares of Eversource Energy during the fourth quarter valued at about $25,000. Lakewood Asset Management LLC acquired a new position in shares of Eversource Energy in the fourth quarter valued at approximately $25,000. Piershale Financial Group Inc. acquired a new position in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Finally, New Hampshire Trust acquired a new position in Eversource Energy during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 77.37% of the company’s stock.

Eversource Energy Company Profile

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Water Distribution and Natural Gas Distribution. The Electric Distribution segment distributes electricity to retail customers.