Eversource Energy (ES) to Release Quarterly Earnings on Thursday

Eversource Energy (NYSE:ES) is set to release its earnings data before the market opens on Thursday, May 2nd. Analysts expect Eversource Energy to post earnings of $1.45 per share for the quarter. Eversource Energy has set its FY24 guidance at $4.50-4.67 EPS and its FY 2024 guidance at 4.500-4.670 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. On average, analysts expect Eversource Energy to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Eversource Energy Trading Up 0.8 %

NYSE ES opened at $60.85 on Thursday. The company has a market cap of $21.34 billion, a PE ratio of -48.29, a PEG ratio of 3.20 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92. The stock has a 50 day moving average of $58.89 and a 200-day moving average of $57.92.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.715 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. This represents a $2.86 annualized dividend and a yield of 4.70%. Eversource Energy’s dividend payout ratio (DPR) is currently -226.98%.

Insider Activity

In related news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the topic of several recent research reports. Scotiabank lowered their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. Wells Fargo & Company increased their price objective on Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Citigroup increased their price objective on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group began coverage on Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.85.

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.