Eversource Energy (ES) Scheduled to Post Quarterly Earnings on Wednesday

Eversource Energy (NYSE:ESGet Rating) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 4th. Analysts expect the company to announce earnings of $1.25 per share for the quarter. Eversource Energy has set its FY 2022 guidance at $4.000-$4.170 EPS and its FY22 guidance at $4.00-$4.17 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Eversource Energy (NYSE:ESGet Rating) last posted its earnings results on Wednesday, February 16th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Eversource Energy had a net margin of 12.34% and a return on equity of 9.29%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the business posted $0.85 EPS. Eversource Energy’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts expect Eversource Energy to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

ES stock opened at $89.72 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.51 and a current ratio of 0.56. Eversource Energy has a 1 year low of $78.44 and a 1 year high of $94.63. The firm has a market cap of $30.90 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 3.66 and a beta of 0.43. The stock has a 50-day simple moving average of $86.78 and a 200-day simple moving average of $86.56.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 3rd were issued a $0.6375 dividend. The ex-dividend date was Wednesday, March 2nd. This represents a $2.55 dividend on an annualized basis and a yield of 2.84%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.60. Eversource Energy’s dividend payout ratio is currently 72.03%.

In related news, insider Cotton M. Cleveland sold 1,859 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $84.00, for a total value of $156,156.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James W. Hunt III sold 4,444 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $90.00, for a total value of $399,960.00. Following the completion of the sale, the executive vice president now directly owns 16,115 shares in the company, valued at approximately $1,450,350. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,515 shares of company stock worth $734,010. 0.38% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $34,000. Neo Ivy Capital Management acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $35,000. First Community Trust NA acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $98,000. Zullo Investment Group Inc. acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $113,000. Finally, Raleigh Capital Management Inc. acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $131,000. Hedge funds and other institutional investors own 80.18% of the company’s stock.

ES has been the subject of a number of analyst reports. Bank of America downgraded Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 price target for the company. in a report on Wednesday, February 23rd. Seaport Res Ptn reissued a “buy” rating on shares of Eversource Energy in a report on Monday, March 28th. Morgan Stanley increased their price target on Eversource Energy from $90.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, April 20th. StockNews.com initiated coverage on Eversource Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Company reduced their price target on Eversource Energy from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $89.78.

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.

Further Reading

Earnings History for Eversource Energy (NYSE:ES)

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