Eversource Energy (NYSE:ES) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Eversource Energy (NYSE:ES - Get Free Report) posted its quarterly earnings data on Monday. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05, Briefing.com reports. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter last year, the company posted $0.97 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. 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 2.1 %

Shares of ES stock traded down $1.33 during midday trading on Tuesday, reaching $62.07. 4,818,314 shares of the stock were exchanged, compared to its average volume of 2,403,104. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The firm has a market cap of $22.18 billion, a PE ratio of -39.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. The company's 50 day moving average is $66.26 and its two-hundred day moving average is $62.84. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.61%. Eversource Energy's dividend payout ratio (DPR) is presently -182.17%.

Wall Street Analysts Forecast Growth

ES has been the subject of several research analyst reports. Barclays lifted their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. BMO Capital Markets dropped their target price 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. Scotiabank increased their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. Mizuho lifted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley upped their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, August 23rd. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $70.07.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of the business's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction 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 directly owns 9,032 shares in the company, valued at approximately $591,596. 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 company insiders.

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.