Eversource Energy (NYSE:ES) Releases Earnings Results, Beats Estimates By $0.02 EPS

Eversource Energy (NYSE:ES) posted its quarterly earnings results on Wednesday. The utilities provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02, FiscalAI reports. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.

Eversource Energy Price Performance

Shares of ES traded up $1.24 during mid-day trading on Wednesday, reaching $70.27. 4,553,473 shares of the company’s stock were exchanged, compared to its average volume of 2,542,584. 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 company has a 50-day simple moving average of $67.38 and a two-hundred day simple moving average of $70.02. Eversource Energy has a 52-week low of $62.72 and a 52-week high of $76.57. The company has a market cap of $26.47 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 3.03 and a beta of 0.66.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a $0.7875 dividend. The ex-dividend date was Monday, September 21st. This represents a $3.15 annualized dividend and a dividend yield of 4.5%. Eversource Energy’s dividend payout ratio is currently 81.61%.

Analyst Ratings Changes

Several brokerages recently commented on ES. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Citigroup began coverage on shares of Eversource Energy in a report on Monday, July 27th. They issued a “hold” rating and a $81.00 target price for the company. HSBC began coverage on shares of Eversource Energy in a research report on Thursday, October 22nd. They set a “hold” rating and a $70.00 price target for the company. Finally, Weiss Ratings raised Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.