Wall Street analysts predict that Eversource Energy (NYSE:ES) will announce earnings per share of $0.76 for the current quarter, Zacks reports. Two analysts have provided estimates for Eversource Energy’s earnings, with the highest EPS estimate coming in at $0.79 and the lowest estimate coming in at $0.72. Eversource Energy posted earnings of $0.72 per share during the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The company is expected to announce its next earnings results after the market closes on Thursday, February 22nd.
On average, analysts expect that Eversource Energy will report full year earnings of $3.13 per share for the current fiscal year, with EPS estimates ranging from $3.07 to $3.20. For the next financial year, analysts forecast that the firm will report earnings of $3.33 per share, with EPS estimates ranging from $3.27 to $3.38. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Eversource Energy.
A number of brokerages have recently weighed in on ES. Bank of America dropped their target price on Eversource Energy from $64.00 to $59.00 and set an “underperform” rating on the stock in a report on Friday, February 2nd. Guggenheim reiterated a “buy” rating and issued a $64.00 target price on shares of Eversource Energy in a report on Friday, February 2nd. Morgan Stanley upgraded Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price on the stock in a report on Wednesday, December 13th. UBS Group began coverage on Eversource Energy in a report on Friday, February 2nd. They issued a “neutral” rating and a $66.00 target price on the stock. Finally, Janney Montgomery Scott downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $63.63.
Eversource Energy (ES) opened at $58.17 on Wednesday. The firm has a market capitalization of $18,734.29, a PE ratio of 19.19, a PEG ratio of 2.97 and a beta of 0.27. Eversource Energy has a twelve month low of $55.85 and a twelve month high of $66.15. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 6th will be paid a $0.505 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 5th. This represents a $2.02 annualized dividend and a dividend yield of 3.47%. Eversource Energy’s payout ratio is presently 61.69%.
Several hedge funds and other institutional investors have recently made changes to their positions in ES. Advisory Services Network LLC grew its stake in shares of Eversource Energy by 1.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after buying an additional 32 shares in the last quarter. Calton & Associates Inc. bought a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $119,000. Risk Paradigm Group LLC grew its stake in shares of Eversource Energy by 111.7% in the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock valued at $128,000 after buying an additional 1,117 shares in the last quarter. Resources Investment Advisors Inc. grew its stake in shares of Eversource Energy by 131.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,085 shares of the utilities provider’s stock valued at $132,000 after buying an additional 1,185 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Eversource Energy by 80.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 2,102 shares of the utilities provider’s stock valued at $133,000 after buying an additional 938 shares in the last quarter. 70.67% of the stock is owned by institutional investors and hedge funds.
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Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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