Eversource Energy (ES) Scheduled to Post Earnings on Thursday

Eversource Energy (NYSE:ES) is set to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.45 per share for the quarter. Eversource Energy has set its FY24 guidance at $4.50-4.67 EPS and its FY 2024 guidance at 4.500-4.670 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, analysts expect Eversource Energy to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Eversource Energy Stock Up 0.3 %

NYSE:ES opened at $60.62 on Wednesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The company has a market cap of $21.26 billion, a PE ratio of -48.11, a PEG ratio of 3.16 and a beta of 0.58. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $78.64. The stock has a 50-day simple moving average of $59.03 and a 200 day simple moving average of $58.03.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ES shares. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $62.00 in a report on Thursday, February 15th. Wells Fargo & Company increased their price target on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. BMO Capital Markets increased their price target on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $72.00 in a research report on Monday, January 22nd. Finally, Scotiabank reduced their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.85.

Insider Activity

In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

About Eversource Energy

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.