Eversource Energy (NYSE:ES) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Eversource Energy (NYSE:ES) released its quarterly earnings results on Wednesday. The utilities provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02, FiscalAI reports. Eversource Energy had a return on equity of 10.68% and a net margin of 10.38%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year.

Eversource Energy Trading Down 1.6%

Eversource Energy stock traded down $1.12 during trading hours on Friday, reaching $70.80. 515,707 shares of the company’s stock were exchanged, compared to its average volume of 2,541,101. The firm’s 50 day simple moving average is $67.37 and its 200 day simple moving average is $70.03. Eversource Energy has a twelve month low of $62.72 and a twelve month high of $76.57. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $26.67 billion, a PE ratio of 18.68, a PEG ratio of 3.07 and a beta of 0.66.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, September 21st. Eversource Energy’s dividend payout ratio (DPR) is presently 81.61%.

Analyst Ratings Changes

Several equities research analysts recently commented on ES shares. BMO Capital Markets cut their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. HSBC began coverage on shares of Eversource Energy in a research report on Thursday, October 22nd. They issued a “hold” rating and a $70.00 price target for the company. Mizuho raised their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Citigroup began coverage on shares of Eversource Energy in a report on Monday, July 27th. They set a “hold” rating and a $81.00 price target on the stock. Finally, Barclays began coverage on Eversource Energy in a research note on Friday. They issued an “equal weight” rating and a $76.00 price target for the company. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $73.17.

About Eversource Energy

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.