Wall Street analysts expect that Eversource Energy (NYSE:ES) will report $2.04 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Eversource Energy’s earnings, with the highest sales estimate coming in at $2.21 billion and the lowest estimate coming in at $1.95 billion. Eversource Energy reported sales of $1.88 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 29th.
According to Zacks, analysts expect that Eversource Energy will report full-year sales of $9.02 billion for the current fiscal year, with estimates ranging from $8.71 billion to $9.81 billion. For the next financial year, analysts forecast that the firm will report sales of $9.33 billion, with estimates ranging from $9.00 billion to $10.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Eversource Energy.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.01. Eversource Energy had a return on equity of 9.16% and a net margin of 11.02%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis.
Shares of ES traded down $0.36 during trading hours on Monday, reaching $78.46. The stock had a trading volume of 1,053,472 shares, compared to its average volume of 1,903,556. Eversource Energy has a 12 month low of $60.69 and a 12 month high of $99.42. The firm has a 50-day simple moving average of $82.46 and a 200 day simple moving average of $84.82. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $26.52 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 3.54 and a beta of 0.36.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 20th will be paid a $0.5675 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $2.27 annualized dividend and a yield of 2.89%. Eversource Energy’s dividend payout ratio is currently 65.80%.
In other news, VP Jay S. Buth sold 1,330 shares of Eversource Energy stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $86.67, for a total transaction of $115,271.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Alberta Investment Management Corp bought a new stake in shares of Eversource Energy during the 4th quarter valued at about $7,597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Eversource Energy by 26.3% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 240,775 shares of the utilities provider’s stock valued at $20,483,000 after acquiring an additional 50,100 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Eversource Energy by 0.6% during the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 271,992 shares of the utilities provider’s stock valued at $23,139,000 after acquiring an additional 1,730 shares during the last quarter. AlphaCrest Capital Management LLC lifted its position in Eversource Energy by 26.7% in the 4th quarter. AlphaCrest Capital Management LLC now owns 14,766 shares of the utilities provider’s stock worth $1,256,000 after buying an additional 3,112 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in Eversource Energy in the 4th quarter worth approximately $1,295,000. Hedge funds and other institutional investors own 81.45% 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 in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
Recommended Story: Neutral Rating
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.