Eversource Energy (NYSE:ES) posted its quarterly earnings data on Thursday. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03, Morningstar.com reports. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a net margin of 12.59% and a return on equity of 9.07%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS. Eversource Energy updated its FY 2018 guidance to $3.20-3.30 EPS.
Shares of NYSE:ES traded down $0.50 during midday trading on Friday, reaching $62.19. The company had a trading volume of 2,104,400 shares, compared to its average volume of 1,962,194. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.60 and a current ratio of 0.65. The company has a market capitalization of $20.29 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 3.31 and a beta of 0.24. Eversource Energy has a 52-week low of $52.76 and a 52-week high of $66.15.
ES has been the topic of a number of analyst reports. Credit Suisse Group raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $62.00 in a report on Monday, July 9th. Morgan Stanley lifted their price objective on shares of Eversource Energy from $59.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 16th. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, July 17th. Bank of America raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $59.00 price objective on the stock in a report on Friday, August 3rd. Finally, Scotiabank initiated coverage on shares of Eversource Energy in a report on Tuesday, September 4th. They set a “sector perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.64.
In related news, EVP Leon J. Olivier sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $62.03, for a total value of $3,101,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Braun Bostich & Associates Inc. raised its stake in Eversource Energy by 1,308.3% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,859 shares of the utilities provider’s stock valued at $109,000 after acquiring an additional 1,727 shares during the period. O Brien Wealth Partners LLC raised its stake in Eversource Energy by 175.3% in the 3rd quarter. O Brien Wealth Partners LLC now owns 1,963 shares of the utilities provider’s stock valued at $121,000 after acquiring an additional 1,250 shares during the period. Asset Advisors Investment Management LLC bought a new stake in Eversource Energy in the 3rd quarter valued at about $148,000. Qube Research & Technologies Ltd raised its stake in Eversource Energy by 46.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,534 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 808 shares during the period. Finally, Synovus Financial Corp raised its stake in Eversource Energy by 205.3% in the 2nd quarter. Synovus Financial Corp now owns 2,650 shares of the utilities provider’s stock valued at $155,000 after acquiring an additional 1,782 shares during the period. 73.59% of the stock is currently owned by institutional investors.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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