KeyCorp Predicts Eversource Energy's Q3 Earnings (NYSE:ES)

Eversource Energy (NYSE:ES - Free Report) - Equities research analysts at KeyCorp increased their Q3 2024 earnings estimates for Eversource Energy in a research report issued to clients and investors on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $1.12 per share for the quarter, up from their previous forecast of $1.03. The consensus estimate for Eversource Energy's current full-year earnings is $4.57 per share. KeyCorp also issued estimates for Eversource Energy's Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $4.56 EPS, FY2025 earnings at $4.80 EPS, FY2026 earnings at $5.10 EPS and FY2028 earnings at $5.76 EPS.

Several other analysts have also weighed in on ES. StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Scotiabank upped their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. Barclays lifted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, Morgan Stanley raised their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, August 23rd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $70.07.

Eversource Energy Stock Down 0.4 %

NYSE ES traded down $0.28 on Thursday, reaching $66.82. 1,499,107 shares of the stock traded hands, compared to its average volume of 1,897,101. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The firm's fifty day simple moving average is $66.49 and its 200 day simple moving average is $62.43. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts' consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business posted $1.00 EPS. The business's revenue for the quarter was down 3.7% compared to the same quarter last year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.28%. Eversource Energy's dividend payout ratio (DPR) is presently -1,059.26%.

Insider Activity

In related news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company's stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 in the company, valued at $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the business's stock in a transaction on Friday, August 9th. The shares were 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 approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Eversource Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its position in Eversource Energy by 14.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider's stock worth $90,000 after acquiring an additional 169 shares in the last quarter. Addison Advisors LLC boosted its holdings in Eversource Energy by 27.4% in the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider's stock worth $49,000 after purchasing an additional 185 shares in the last quarter. Bar Harbor Wealth Management increased its position in Eversource Energy by 4.1% during the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider's stock worth $271,000 after buying an additional 190 shares during the last quarter. Avantax Advisory Services Inc. increased its position in Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider's stock worth $475,000 after buying an additional 192 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider's stock valued at $35,000 after buying an additional 198 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

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.