Seaport Res Ptn Has Negative Estimate for ES FY2024 Earnings

Eversource Energy (NYSE:ES) – Research analysts at Seaport Res Ptn cut their FY2024 EPS estimates for Eversource Energy in a note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $4.56 per share for the year, down from their prior forecast of $4.60. The consensus estimate for Eversource Energy’s current full-year earnings is $4.57 per share. Seaport Res Ptn also issued estimates for Eversource Energy’s FY2025 earnings at $4.74 EPS, FY2026 earnings at $5.05 EPS and FY2027 earnings at $5.36 EPS.

Several other research analysts have also weighed in on the stock. BMO Capital Markets cut their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Scotiabank lifted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Bank of America boosted their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays increased 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. Finally, Morgan Stanley boosted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Performance

Eversource Energy stock opened at $63.67 on Friday. The stock has a fifty day moving average price of $66.42 and a 200 day moving average price of $62.72. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The firm has a market capitalization of $22.75 billion, a P/E ratio of -235.81, a PEG ratio of 2.55 and a beta of 0.61.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors have recently made changes to their positions in ES. Lynx Investment Advisory acquired a new stake in Eversource Energy in the second quarter valued at $25,000. UMB Bank n.a. lifted its position in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the last quarter. Manchester Capital Management LLC grew its stake in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 276 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Eversource Energy by 4,187.5% in the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock valued at $41,000 after buying an additional 670 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Eversource Energy during the first quarter valued at approximately $43,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. This 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 this link. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction 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 owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.49%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is -1,059.26%.

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.