Eversource Energy (NYSE:ES) Issues FY 2022 Earnings Guidance

Eversource Energy (NYSE:ESGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $4.00-$4.17 for the period, compared to the consensus EPS estimate of $4.10. The company issued revenue guidance of -.

A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on Eversource Energy in a report on Thursday, March 31st. They issued a hold rating for the company. Bank of America downgraded Eversource Energy from a neutral rating to an underperform rating and set a $80.00 price objective for the company. in a report on Wednesday, February 23rd. Seaport Res Ptn restated a buy rating on shares of Eversource Energy in a report on Monday, March 28th. Morgan Stanley boosted their price objective on Eversource Energy from $90.00 to $97.00 and gave the company an equal weight rating in a report on Wednesday, April 20th. Finally, Wells Fargo & Company boosted their price objective on Eversource Energy from $92.00 to $97.00 in a report on Thursday, May 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $90.75.

ES stock traded up $0.05 during midday trading on Monday, hitting $89.39. The company’s stock had a trading volume of 33,183 shares, compared to its average volume of 1,892,775. The stock’s 50-day moving average price is $88.49 and its 200 day moving average price is $86.83. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 1.21. Eversource Energy has a 1 year low of $78.44 and a 1 year high of $94.63. The stock has a market cap of $30.83 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 3.50 and a beta of 0.42.

Eversource Energy (NYSE:ESGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. Eversource Energy had a return on equity of 9.52% and a net margin of 12.32%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. As a group, equities analysts forecast that Eversource Energy will post 4.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, May 19th will be paid a dividend of $0.6375 per share. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 2.85%. Eversource Energy’s payout ratio is 67.82%.

In related news, EVP James W. Hunt III sold 4,444 shares of the business’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $90.00, for a total transaction of $399,960.00. Following the sale, the executive vice president now directly owns 16,115 shares in the company, valued at approximately $1,450,350. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Linda Dorcena Forry sold 1,487 shares of the company’s stock in a transaction dated Thursday, February 24th. The stock was 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. Over the last quarter, insiders have sold 10,374 shares of company stock worth $902,881. 0.38% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ES. Flagship Harbor Advisors LLC increased its position in shares of Eversource Energy by 2.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 32,551 shares of the utilities provider’s stock valued at $2,962,000 after purchasing an additional 890 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Eversource Energy during the 4th quarter valued at about $238,000. Squarepoint Ops LLC increased its position in shares of Eversource Energy by 45.7% during the 4th quarter. Squarepoint Ops LLC now owns 9,766 shares of the utilities provider’s stock valued at $889,000 after purchasing an additional 3,063 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Eversource Energy during the 4th quarter valued at about $3,051,000. Finally, Sei Investments Co. increased its position in shares of Eversource Energy by 0.7% during the 4th quarter. Sei Investments Co. now owns 150,862 shares of the utilities provider’s stock valued at $13,729,000 after purchasing an additional 1,083 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Eversource Energy Company Profile (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.

See Also

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

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