Equities research analysts expect Eversource Energy (NYSE:ES) to report $0.80 earnings per share (EPS) for the current 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 in the same quarter last year, which would suggest a positive year over year growth rate of 9.6%. The firm is expected to announce its next earnings report on Wednesday, February 19th.
According to Zacks, analysts expect that Eversource Energy will report full year earnings of $3.46 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.47. For the next financial year, analysts anticipate that the firm will report 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 research firms that cover Eversource Energy.
Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Eversource Energy had a return on equity of 9.28% and a net margin of 10.46%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS.
ES has been the topic of a number of recent analyst reports. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $76.00 to $88.00 in a report on Wednesday, September 4th. KeyCorp upped their price objective on Eversource Energy from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on Eversource Energy from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group cut 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, ValuEngine cut Eversource Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Eversource Energy currently has an average rating of “Hold” and an average target price of $81.45.
Shares of Eversource Energy stock traded up $0.47 on Thursday, hitting $81.27. 1,808,810 shares of the company were exchanged, compared to its average volume of 1,633,478. The stock has a market capitalization of $26.16 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 4.15 and a beta of 0.17. The company has a 50-day moving average price of $83.92 and a 200 day moving average price of $78.77. Eversource Energy has a 1-year low of $62.61 and a 1-year high of $86.55. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 1.11.
In related news, CFO Philip J. Lembo sold 1,256 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $79.61, for a total value of $99,990.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ES. Price T Rowe Associates Inc. MD raised its position in Eversource Energy by 108.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,429,007 shares of the utilities provider’s stock valued at $1,093,142,000 after purchasing an additional 7,496,179 shares during the period. Zimmer Partners LP raised its position in Eversource Energy by 586.4% in the second quarter. Zimmer Partners LP now owns 4,290,210 shares of the utilities provider’s stock valued at $325,026,000 after purchasing an additional 3,665,210 shares during the period. Vanguard Group Inc. raised its position in Eversource Energy by 3.4% in the second quarter. Vanguard Group Inc. now owns 40,172,997 shares of the utilities provider’s stock valued at $3,043,505,000 after purchasing an additional 1,338,950 shares during the period. Nuveen Asset Management LLC purchased a new stake in Eversource Energy in the second quarter valued at approximately $96,520,000. Finally, Macquarie Group Ltd. raised its position in Eversource Energy by 916.3% in the second quarter. Macquarie Group Ltd. now owns 992,928 shares of the utilities provider’s stock valued at $75,224,000 after purchasing an additional 895,228 shares during the period. 78.47% 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 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.
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