Eversource Energy (NYSE:ES) Releases FY24 Earnings Guidance

Eversource Energy (NYSE:ES) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.52-$4.60 for the period, compared to the consensus estimate of $4.56.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ES. BMO Capital Markets reduced their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company increased their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Mizuho lifted their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Performance

ES stock traded down $0.27 during mid-day trading on Monday, hitting $63.40. 2,061,945 shares of the company were exchanged, compared to its average volume of 2,391,745. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The business has a 50 day simple moving average of $66.42 and a 200-day simple moving average of $62.79. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $22.66 billion, a PE ratio of -235.81, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is -1,059.26%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% 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.