Eversource Energy (ES) Set to Announce Earnings on Thursday

Eversource Energy (NYSE:ES) will be posting its quarterly 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The company 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%. Eversource Energy’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $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 Trading Up 1.7 %

ES opened at $60.46 on Tuesday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $78.64. The stock’s 50 day simple moving average is $58.97 and its 200 day simple moving average is $57.99. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a $0.715 dividend. 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. This represents a $2.86 annualized dividend and a yield of 4.73%. Eversource Energy’s dividend payout ratio is -226.98%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ES. Argus dropped their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Barclays lowered their target price on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. Citigroup boosted their price target on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $72.00 in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.85.

Eversource Energy Company Profile

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.