Analysts Expect Eversource Energy (NYSE:ES) Will Announce Earnings of $0.91 Per Share

Wall Street brokerages predict that Eversource Energy (NYSE:ES – Get Rating) will announce earnings per share of $0.91 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Eversource Energy’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.85. Eversource Energy reported earnings per share of $0.79 during the same quarter last year, which suggests a positive year over year growth rate of 15.2%. The firm is scheduled to issue its next earnings report 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 forecast that the business will report earnings of $4.37 per share, with EPS estimates ranging from $4.35 to $4.42. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Eversource Energy.

Eversource Energy (NYSE:ES – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.08. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Eversource Energy had a return on equity of 9.29% and a net margin of 12.34%. Eversource Energy’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 EPS.

A number of brokerages have recently commented on ES. Wells Fargo & Company upped their price target on Eversource Energy from $92.00 to $97.00 in a research note on Thursday. Credit Suisse Group started coverage on Eversource Energy in a research note on Tuesday, April 26th. They issued a “neutral” rating and a $92.00 price target for the company. Bank of America lowered Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 price objective for the company. in a research report on Wednesday, February 23rd. StockNews.com started coverage on Eversource Energy in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wolfe Research lowered Eversource Energy from an “outperform” rating to a “peer perform” rating and decreased their price objective for the company from $87.00 to $85.00 in a research report on Wednesday, March 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.75.

In other news, VP Jay S. Buth sold 725 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $82.97, for a total value of $60,153.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James W. Hunt III sold 4,444 shares of the stock in a transaction that occurred on Tuesday, April 5th. The shares were 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 of the company’s stock, 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 valued at $734,010. Insiders own 0.38% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Eversource Energy by 19.3% in the 4th quarter. BlackRock Inc. now owns 39,646,912 shares of the utilities provider’s stock valued at $3,607,077,000 after buying an additional 6,402,262 shares during the last quarter. State Street Corp raised its stake in Eversource Energy by 1.8% in the 4th quarter. State Street Corp now owns 22,163,997 shares of the utilities provider’s stock valued at $2,016,480,000 after acquiring an additional 401,102 shares during the period. Geode Capital Management LLC raised its stake in Eversource Energy by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 6,537,050 shares of the utilities provider’s stock valued at $593,253,000 after acquiring an additional 190,201 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Eversource Energy by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,216,140 shares of the utilities provider’s stock valued at $565,546,000 after acquiring an additional 94,587 shares during the period. Finally, Legal & General Group Plc raised its stake in Eversource Energy by 0.8% in the 4th quarter. Legal & General Group Plc now owns 5,054,899 shares of the utilities provider’s stock valued at $459,896,000 after acquiring an additional 39,782 shares during the period. 80.74% of the stock is owned by institutional investors.

Shares of ES stock opened at $88.57 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.51. The stock has a market cap of $30.51 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 3.38 and a beta of 0.42. The stock has a 50-day moving average of $87.56 and a 200-day moving average of $86.64. Eversource Energy has a one year low of $78.44 and a one year high of $94.63.

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.

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