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

Eversource Energy (NYSE:ES) updated its FY 2024 earnings guidance on Monday. 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.

Analyst Ratings Changes

A number of research firms have weighed in on ES. 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 report on Tuesday, October 15th. Wells Fargo & Company upped their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Mizuho increased their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Performance

Shares of NYSE ES traded down $1.24 during mid-day trading on Wednesday, hitting $60.83. The company had a trading volume of 2,370,461 shares, compared to its average volume of 2,402,953. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The firm has a market cap of $21.74 billion, a P/E ratio of -39.54, a PEG ratio of 2.48 and a beta of 0.61. The business’s 50-day simple moving average is $66.26 and its 200-day simple moving average is $62.84.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 earnings per share. As a group, analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Insider Activity

In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate 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.