Brokers Set Expectations for Eversource Energy’s Q3 2022 Earnings (NYSE:ES)
Eversource Energy (NYSE:ES – Get Rating) – Equities researchers at KeyCorp raised their Q3 2022 earnings estimates for shares of Eversource Energy in a research report issued to clients and investors on Tuesday, June 14th. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $1.04 per share for the quarter, up from their previous forecast of $1.02. The consensus estimate for Eversource Energy’s current full-year earnings is $4.11 per share. KeyCorp also issued estimates for Eversource Energy’s Q4 2022 earnings at $0.93 EPS, FY2023 earnings at $4.36 EPS, FY2024 earnings at $4.64 EPS and FY2026 earnings at $5.16 EPS.
Several other equities analysts have also recently commented on the stock. Credit Suisse Group began coverage on shares of Eversource Energy in a research note on Tuesday, April 26th. They set a “neutral” rating and a $92.00 target price for the company. StockNews.com started coverage on shares of Eversource Energy in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price target on shares of Eversource Energy from $92.00 to $97.00 in a report on Thursday, May 5th. Morgan Stanley lowered their price target on shares of Eversource Energy from $97.00 to $94.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Finally, Bank of America lowered shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 price target on the stock. in a report on Wednesday, February 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $90.00.
NYSE:ES opened at $80.58 on Thursday. The stock has a market cap of $27.79 billion, a P/E ratio of 21.43, a PEG ratio of 3.45 and a beta of 0.41. Eversource Energy has a one year low of $78.44 and a one year high of $94.63. The company has a fifty day moving average price of $90.30 and a 200 day moving average price of $87.75. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.62 and a quick ratio of 0.57.
Eversource Energy (NYSE:ES – Get Rating) last released its earnings results on Wednesday, May 4th. The utilities provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Eversource Energy had a net margin of 12.32% and a return on equity of 9.52%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, May 19th will be issued a $0.6375 dividend. This represents a $2.55 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, May 18th. Eversource Energy’s payout ratio is 67.82%.
In related news, VP Jay S. Buth sold 650 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $92.55, for a total transaction of $60,157.50. Following the transaction, the vice president now owns 17,516 shares in the company, valued at approximately $1,621,105.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frederica M. Williams sold 1,859 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $90.84, for a total transaction of $168,871.56. Following the transaction, the insider now owns 20,286 shares in the company, valued at approximately $1,842,780.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,953 shares of company stock worth $995,989. 0.38% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vestmark Advisory Solutions Inc. lifted its position in Eversource Energy by 3.5% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 3,380 shares of the utilities provider’s stock valued at $298,000 after purchasing an additional 113 shares during the period. Veritable L.P. lifted its position in Eversource Energy by 1.5% during the 1st quarter. Veritable L.P. now owns 7,956 shares of the utilities provider’s stock valued at $702,000 after purchasing an additional 118 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Eversource Energy by 13.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,103 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 131 shares during the period. Valmark Advisers Inc. lifted its position in Eversource Energy by 1.6% during the 1st quarter. Valmark Advisers Inc. now owns 8,616 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 133 shares during the period. Finally, United Capital Financial Advisers LLC lifted its position in Eversource Energy by 3.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock valued at $342,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.
About Eversource Energy (Get Rating)
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.
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