Equities Analysts Offer Predictions for ES FY2024 Earnings

Eversource Energy (NYSE:ES) – Research analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of Eversource Energy in a research note issued on Wednesday, January 8th. Scotiabank analyst A. Weisel forecasts that the utilities provider will post earnings of $4.57 per share for the year. Scotiabank has a “Sector Underperform” rating and a $56.00 price target on the stock. The consensus estimate for Eversource Energy’s current full-year earnings is $4.56 per share. Scotiabank also issued estimates for Eversource Energy’s FY2025 earnings at $4.85 EPS.

ES has been the subject of a number of other research reports. BMO Capital Markets decreased their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 target price for the company. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Barclays increased their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Mizuho raised their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Stock Up 0.6 %

Shares of Eversource Energy stock opened at $55.95 on Monday. The business has a 50-day moving average price of $59.76 and a 200 day moving average price of $62.94. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The firm has a market cap of $20.50 billion, a P/E ratio of -35.64, a P/E/G ratio of 2.38 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

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

Hedge Funds Weigh In On Eversource Energy

Several large investors have recently modified their holdings of the stock. Code Waechter LLC boosted its stake in shares of Eversource Energy by 2.3% during the fourth quarter. Code Waechter LLC now owns 15,606 shares of the utilities provider’s stock valued at $896,000 after purchasing an additional 355 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in Eversource Energy in the fourth quarter valued at approximately $208,000. Brookstone Capital Management grew its holdings in shares of Eversource Energy by 1.8% during the fourth quarter. Brookstone Capital Management now owns 21,206 shares of the utilities provider’s stock valued at $1,218,000 after buying an additional 380 shares during the last quarter. Czech National Bank boosted its position in shares of Eversource Energy by 9.1% during the fourth quarter. Czech National Bank now owns 79,444 shares of the utilities provider’s stock valued at $4,562,000 after buying an additional 6,641 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in shares of Eversource Energy by 18.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 35,335 shares of the utilities provider’s stock worth $2,029,000 after acquiring an additional 5,577 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were paid a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.11%. Eversource Energy’s payout ratio is currently -182.17%.

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.