Zacks: Brokerages Anticipate Eversource Energy (NYSE:ES) Will Post Earnings of $0.79 Per Share

Equities research analysts predict that Eversource Energy (NYSE:ES) will post earnings per share of $0.79 for the current quarter, Zacks reports. Three analysts have provided estimates for Eversource Energy’s earnings, with estimates ranging from $0.77 to $0.81. Eversource Energy reported earnings per share of $0.74 in the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Eversource Energy will report full year earnings of $3.64 per share for the current fiscal year, with EPS estimates ranging from $3.61 to $3.66. For the next year, analysts anticipate that the firm will report earnings of $3.89 per share, with EPS estimates ranging from $3.85 to $3.91. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Eversource Energy.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year.

Several research analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Eversource Energy in a research report on Wednesday, February 19th. They set an “outperform” rating and a $100.00 price objective for the company. Morgan Stanley cut their price target on Eversource Energy from $83.00 to $75.00 and set an “underweight” rating for the company in a report on Friday, May 15th. Evercore ISI upgraded Eversource Energy from an “underperform” rating to an “in-line” rating and cut their price target for the company from $93.00 to $91.00 in a report on Monday, April 20th. Wells Fargo & Co boosted their price target on Eversource Energy from $90.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, KeyCorp boosted their price target on Eversource Energy from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Eversource Energy has a consensus rating of “Hold” and a consensus price target of $89.44.

Shares of NYSE ES traded down $0.36 during midday trading on Friday, reaching $78.46. 1,053,472 shares of the company were exchanged, compared to its average volume of 1,903,556. Eversource Energy has a 1 year low of $60.69 and a 1 year high of $99.42. The stock has a fifty day simple moving average of $82.46 and a 200 day simple moving average of $84.82. The stock has a market cap of $26.52 billion, a P/E ratio of 27.53, a PEG ratio of 3.54 and a beta of 0.36. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Tuesday, May 19th. Eversource Energy’s payout ratio is 65.80%.

In related news, VP Jay S. Buth sold 1,330 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $86.67, for a total value 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.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Alpha LLC acquired a new stake in Eversource Energy in the 1st quarter worth $29,000. Lloyd Advisory Services LLC. acquired a new position in Eversource Energy during the fourth quarter valued at approximately $33,000. Bay Harbor Wealth Management LLC bought a new position in Eversource Energy in the fourth quarter valued at approximately $34,000. Versant Capital Management Inc raised its position in Eversource Energy by 36.9% during the first quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 123 shares in the last quarter. Finally, Covington Capital Management acquired a new position in shares of Eversource Energy in the fourth quarter valued at $41,000. 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.

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Earnings History and Estimates for Eversource Energy (NYSE:ES)

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