Eversource Energy (NYSE:ES) Releases Earnings Results

Eversource Energy (NYSE:ES) posted its quarterly earnings results on Wednesday. The utilities provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02, FiscalAI reports. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.20 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS.

Eversource Energy Trading Up 1.1%

Eversource Energy stock traded up $0.81 during mid-day trading on Thursday, hitting $71.27. 1,550,165 shares of the company’s stock were exchanged, compared to its average volume of 2,537,659. The company’s 50 day simple moving average is $67.37 and its 200-day simple moving average is $70.02. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $26.85 billion, a P/E ratio of 18.46, a PEG ratio of 3.01 and a beta of 0.66. Eversource Energy has a fifty-two week low of $62.72 and a fifty-two week high of $76.57.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, September 21st. Eversource Energy’s dividend payout ratio (DPR) is presently 81.61%.

More Eversource Energy News

Here are the key news stories impacting Eversource Energy this week:

• Positive Sentiment: Third-quarter earnings of $0.92 per share edged past FactSet’s $0.90 estimate, which may have offered some support. Estimates differed across services: Zacks reported that EPS missed its $0.97 consensus. FactSet EPS estimate report
• Negative Sentiment: Revenue was $2.98 billion, below the $3.20 billion FactSet estimate and down 7.5% from a year earlier. Earnings also declined: reported EPS was $0.92 versus $1.19 in the year-ago quarter on a recurring basis, highlighting pressure on results. Eversource third-quarter results

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ES shares. Mizuho raised their target price on Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings raised Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. HSBC started coverage on Eversource Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $70.00 price target on the stock. BMO Capital Markets dropped their price target on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $72.91.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.