Eversource Energy (NYSE:ES) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Eversource Energy (NYSE:ES – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.520-4.600 for the period, compared to the consensus estimate of 4.560. The company issued revenue guidance of -. Eversource Energy also updated its FY24 guidance to $4.52-$4.60 EPS.

Eversource Energy Stock Performance

Shares of NYSE:ES traded up $0.59 during midday trading on Thursday, reaching $61.29. 1,662,171 shares of the company traded hands, compared to its average volume of 2,407,920. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of -38.66, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The firm’s fifty day moving average price is $66.14 and its two-hundred day moving average price is $62.82.

Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 11.00% and a negative net margin of 4.73%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.67%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ES shares. Barclays upped their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. BMO Capital Markets decreased their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Scotiabank upped their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company upped their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.07.

Get Our Latest Stock Report on ES

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

About Eversource Energy

(Get Free Report)

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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