Eversource Energy (NYSE:ES) Issues Quarterly Earnings Results

Eversource Energy (NYSE:ES) issued its earnings results on Thursday. The utilities provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.07), FiscalAI reports. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.94 billion.

Eversource Energy Stock Performance

NYSE ES traded up $0.20 on Thursday, reaching $70.42. 2,783,862 shares of the stock were exchanged, compared to its average volume of 2,487,021. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The firm has a market capitalization of $26.42 billion, a PE ratio of 19.29, a PEG ratio of 2.96 and a beta of 0.77. The company’s 50-day simple moving average is $68.24 and its two-hundred day simple moving average is $68.37.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be paid a dividend of $0.7875 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, March 5th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.5%. Eversource Energy’s dividend payout ratio is presently 82.47%.

Institutional Investors Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ES. CIBC Private Wealth Group LLC boosted its stake in shares of Eversource Energy by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,483 shares of the utilities provider’s stock worth $975,000 after acquiring an additional 162 shares during the period. Parallel Advisors LLC grew its holdings in Eversource Energy by 4.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,636 shares of the utilities provider’s stock valued at $259,000 after buying an additional 169 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Eversource Energy by 4.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,198 shares of the utilities provider’s stock valued at $283,000 after buying an additional 190 shares during the last quarter. Johnson Financial Group Inc. boosted its position in shares of Eversource Energy by 73.5% during the third quarter. Johnson Financial Group Inc. now owns 465 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 197 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its stake in Eversource Energy by 2.2% during the third quarter. Hilltop Holdings Inc. now owns 9,654 shares of the utilities provider’s stock valued at $687,000 after acquiring an additional 205 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ES. BMO Capital Markets decreased their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday, November 6th. Mizuho reissued a “neutral” rating and set a $68.00 price objective (down from $81.00) on shares of Eversource Energy in a report on Thursday, November 20th. Scotiabank dropped their target price on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Thursday, November 20th. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Finally, UBS Group cut their price objective on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Eversource Energy presently has an average rating of “Reduce” and an average price target of $71.50.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.