Q4 EPS Estimate for Eversource Energy Decreased by Analyst

Eversource Energy (NYSE:ES) – Analysts at KeyCorp cut their Q4 2024 earnings per share estimates for Eversource Energy in a note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $1.00 per share for the quarter, down from their previous estimate of $1.01. The consensus estimate for Eversource Energy’s current full-year earnings is $4.56 per share. KeyCorp also issued estimates for Eversource Energy’s FY2025 earnings at $4.76 EPS.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis.

ES has been the subject of a number of other reports. Barclays increased their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a report on Tuesday. They set an “underperform” rating and a $52.00 target price on the stock. Scotiabank raised their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Morgan Stanley lifted their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.15.

Eversource Energy Price Performance

Shares of ES stock opened at $61.64 on Thursday. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The business has a fifty day simple moving average of $64.00 and a 200 day simple moving average of $63.03. The company has a market cap of $22.58 billion, a P/E ratio of -39.26, a P/E/G ratio of 2.45 and a beta of 0.60.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is -182.17%.

Institutional Investors Weigh In On Eversource Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Wellington Management Group LLP bought a new position in Eversource Energy during the third quarter valued at $808,783,000. Geode Capital Management LLC grew its stake in shares of Eversource Energy by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after acquiring an additional 268,588 shares during the period. FMR LLC lifted its holdings in Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after purchasing an additional 185,381 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Eversource Energy by 4.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock worth $337,270,000 after purchasing an additional 216,630 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

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.