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

Eversource Energy (NYSE:ES) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.520-4.600 for the period, compared to the consensus EPS 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 Trading Down 2.0 %

NYSE ES traded down $1.24 during mid-day trading on Wednesday, reaching $60.83. 2,370,461 shares of the stock were exchanged, compared to its average volume of 2,402,953. The stock has a market capitalization of $21.74 billion, a PE ratio of -39.54, a PEG ratio of 2.48 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The business’s fifty 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 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Mizuho increased their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.07.

Insider Transactions at Eversource Energy

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

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.