Eversource Energy (NYSE:ES - Free Report) - Research analysts at Seaport Res Ptn reduced their FY2024 earnings per share estimates for Eversource Energy in a report released on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $4.56 per share for the year, down from their previous forecast of $4.60. The consensus estimate for Eversource Energy's current full-year earnings is $4.57 per share. Seaport Res Ptn also issued estimates for Eversource Energy's FY2025 earnings at $4.74 EPS, FY2026 earnings at $5.05 EPS and FY2027 earnings at $5.36 EPS.
A number of other analysts have also recently weighed in on the company. Bank of America increased their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Barclays increased their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Scotiabank increased their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $70.07.
Read Our Latest Stock Analysis on ES
Eversource Energy Stock Down 3.3 %
NYSE ES traded down $2.18 on Friday, hitting $63.67. 2,302,813 shares of the stock traded hands, compared to its average volume of 2,393,301. The stock has a 50-day moving average of $66.48 and a 200 day moving average of $62.68. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a market capitalization of $22.75 billion, a P/E ratio of -236.56, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. 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 (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Eversource Energy'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 issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.49%. Eversource Energy's payout ratio is currently -1,059.26%.
Insider Activity
In related news, 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 transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the firm's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.
Hedge Funds Weigh In On Eversource Energy
Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Eversource Energy by 24.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider's stock valued at $4,232,000 after purchasing an additional 13,950 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Eversource Energy by 6.1% in the first quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider's stock valued at $38,631,000 after purchasing an additional 37,219 shares during the last quarter. Sei Investments Co. grew its position in Eversource Energy by 62.9% during the first quarter. Sei Investments Co. now owns 460,399 shares of the utilities provider's stock worth $27,518,000 after buying an additional 177,692 shares in the last quarter. Bensler LLC acquired a new stake in Eversource Energy during the second quarter worth about $316,000. Finally, M&G Plc grew its position in Eversource Energy by 16.8% during the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider's stock worth $92,721,000 after buying an additional 234,361 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.
About Eversource Energy
(
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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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