Brokerages Expect Eversource Energy (NYSE:ES) to Post $1.25 Earnings Per Share

Wall Street brokerages expect that Eversource Energy (NYSE:ESGet Rating) will announce $1.25 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Eversource Energy’s earnings. The highest EPS estimate is $1.31 and the lowest is $1.21. Eversource Energy posted earnings per share of $1.15 during the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Eversource Energy will report full-year earnings of $4.10 per share for the current year, with EPS estimates ranging from $4.08 to $4.11. For the next financial year, analysts anticipate that the company will report earnings of $4.37 per share, with EPS estimates ranging from $4.35 to $4.42. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Eversource Energy.

Eversource Energy (NYSE:ESGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Eversource Energy had a return on equity of 9.29% and a net margin of 12.34%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year.

Several research analysts have recently issued reports on ES shares. Morgan Stanley upped their target price on shares of Eversource Energy from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, March 22nd. BMO Capital Markets downgraded shares of Eversource Energy from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a report on Monday, January 10th. Wells Fargo & Company cut their price objective on Eversource Energy from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Tuesday, February 22nd. StockNews.com began coverage on shares of Eversource Energy in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Bank of America cut shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 price objective on the stock. in a research note on Wednesday, February 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $88.22.

Shares of Eversource Energy stock opened at $92.60 on Thursday. Eversource Energy has a one year low of $78.44 and a one year high of $93.33. The business has a 50-day simple moving average of $85.72 and a 200-day simple moving average of $86.19. The company has a market cap of $31.90 billion, a PE ratio of 26.16, a P/E/G ratio of 3.64 and a beta of 0.43. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.51 and a current ratio of 0.56.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 3rd were given a $0.6375 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.60. This represents a $2.55 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, March 2nd. Eversource Energy’s dividend payout ratio (DPR) is 72.03%.

In related news, VP Jay S. Buth sold 725 shares of the stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $82.97, for a total value of $60,153.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Linda Dorcena Forry sold 1,487 shares of the firm’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $79.18, for a total value of $117,740.66. The disclosure for this sale can be found here. Insiders sold a total of 10,374 shares of company stock worth $895,464 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. IFM Investors Pty Ltd grew its stake in Eversource Energy by 117.5% in the first quarter. IFM Investors Pty Ltd now owns 97,914 shares of the utilities provider’s stock worth $8,635,000 after purchasing an additional 52,898 shares in the last quarter. TPG Financial Advisors LLC grew its stake in Eversource Energy by 9.2% in the first quarter. TPG Financial Advisors LLC now owns 5,495 shares of the utilities provider’s stock worth $485,000 after purchasing an additional 463 shares in the last quarter. Rosenberg Matthew Hamilton acquired a new position in Eversource Energy in the first quarter worth about $66,000. Unigestion Holding SA acquired a new position in Eversource Energy in the first quarter worth about $750,000. Finally, First Command Bank grew its stake in Eversource Energy by 3,750.0% in the first quarter. First Command Bank now owns 462 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 450 shares in the last quarter. Institutional investors own 80.18% of the company’s stock.

About Eversource Energy (Get Rating)

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.

Read More

Get a free copy of the Zacks research report on Eversource Energy (ES)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.