Eversource Energy (ES) Set to Announce Earnings on Thursday

Eversource Energy (NYSE:ES) will announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.45 per share for the quarter. Eversource Energy has set its FY24 guidance at $4.50-4.67 EPS and its FY 2024 guidance at 4.500-4.670 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.02). The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, analysts expect Eversource Energy to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Eversource Energy Stock Up 0.8 %

Shares of Eversource Energy stock opened at $60.85 on Thursday. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of -48.29, a P/E/G ratio of 3.20 and a beta of 0.58. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $79.92. The stock has a 50-day simple moving average of $58.89 and a 200-day simple moving average of $57.92.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.70%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s payout ratio is currently -226.98%.

Analysts Set New Price Targets

Several research firms recently weighed in on ES. StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Barclays reduced their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, January 22nd. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. Scotiabank reduced their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday. Finally, The Goldman Sachs Group assumed coverage on Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $65.85.

Insider Activity

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

About Eversource Energy

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.