$0.80 EPS Expected for Eversource Energy (NYSE:ES) This Quarter

Equities research analysts expect that Eversource Energy (NYSE:ES) will report earnings of $0.80 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Eversource Energy’s earnings, with estimates ranging from $0.78 to $0.83. Eversource Energy posted earnings of $0.73 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 19th.

On average, analysts expect that Eversource Energy will report full year earnings of $3.46 per share for the current financial year, with EPS estimates ranging from $3.45 to $3.47. For the next fiscal year, analysts anticipate that the business will post earnings of $3.65 per share, with EPS estimates ranging from $3.58 to $3.69. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Eversource Energy.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.26 billion. Eversource Energy had a return on equity of 9.28% and a net margin of 10.46%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share.

ES has been the topic of several research reports. Wells Fargo & Co raised their price objective on Eversource Energy from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. ValuEngine lowered Eversource Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp raised their price objective on Eversource Energy from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. UBS Group lowered Eversource Energy from a “buy” rating to a “neutral” rating and set a $91.00 price objective on the stock. in a report on Tuesday, October 29th. Finally, Morgan Stanley raised their price target on Eversource Energy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $81.45.

Shares of ES stock traded up $0.05 during mid-day trading on Thursday, hitting $82.20. 1,804,275 shares of the stock were exchanged, compared to its average volume of 1,684,329. The stock’s fifty day simple moving average is $83.71 and its two-hundred day simple moving average is $78.93. The stock has a market capitalization of $26.31 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 4.18 and a beta of 0.17. Eversource Energy has a 12-month low of $62.61 and a 12-month high of $86.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.54 and a current ratio of 0.59.

In related news, CFO Philip J. Lembo sold 1,256 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $79.61, for a total transaction of $99,990.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ES. Paragon Capital Management LLC lifted its position in Eversource Energy by 478.9% in the second quarter. Paragon Capital Management LLC now owns 330 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 273 shares during the period. Krane Funds Advisors LLC acquired a new stake in Eversource Energy in the second quarter valued at about $25,000. Kavar Capital Partners LLC acquired a new stake in Eversource Energy in the second quarter valued at about $30,000. Hexavest Inc. acquired a new stake in Eversource Energy in the second quarter valued at about $42,000. Finally, FTB Advisors Inc. lifted its position in Eversource Energy by 614.3% in the second quarter. FTB Advisors Inc. now owns 600 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 516 shares during the period. 78.42% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

See Also: Depreciation

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Earnings History and Estimates for Eversource Energy (NYSE:ES)

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