Brokers Set Expectations for Eversource Energy’s Q3 2022 Earnings (NYSE:ES)
Eversource Energy (NYSE:ES – Get Rating) – Research analysts at KeyCorp increased their Q3 2022 earnings estimates for shares of Eversource Energy in a report released on Tuesday, June 14th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $1.04 for the quarter, up from their prior estimate 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. Eversource Energy (NYSE:ES – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $2.89 billion. Eversource Energy had a net margin of 12.32% and a return on equity of 9.52%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS.
Several other research analysts have also weighed in on the stock. Seaport Res Ptn reissued a “buy” rating on shares of Eversource Energy in a report on Monday, March 28th. Morgan Stanley decreased their price objective on shares of Eversource Energy from $97.00 to $94.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Wolfe Research lowered shares of Eversource Energy from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $87.00 to $85.00 in a report on Wednesday, March 9th. StockNews.com started coverage on shares of Eversource Energy in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Bank of America lowered shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 price target for the company. in a report on Wednesday, February 23rd. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.00.
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Shares of ES stock opened at $80.58 on Thursday. The firm has a market cap of $27.79 billion, a P/E ratio of 21.43, a P/E/G ratio of 3.45 and a beta of 0.41. 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 has a 1-year low of $78.44 and a 1-year high of $94.63. The firm has a fifty day moving average of $90.30 and a two-hundred day moving average of $87.75.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, May 19th will be given a $0.6375 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $2.55 annualized dividend and a yield of 3.16%. Eversource Energy’s dividend payout ratio is presently 67.82%.
In other Eversource Energy news, EVP James W. Hunt III sold 4,444 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $90.00, for a total transaction of $399,960.00. Following the sale, the executive vice president now directly owns 16,115 shares in the company, valued at approximately $1,450,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jay S. Buth sold 650 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $92.55, for a total transaction of $60,157.50. Following the sale, the vice president now owns 17,516 shares in the company, valued at $1,621,105.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,953 shares of company stock worth $995,989. 0.38% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ES. David J Yvars Group acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $26,000. Country Trust Bank purchased a new position in shares of Eversource Energy in the fourth quarter worth approximately $28,000. TAP Consulting LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth approximately $28,000. Rinkey Investments purchased a new position in shares of Eversource Energy in the fourth quarter worth approximately $31,000. Finally, MCF Advisors LLC purchased a new position in shares of Eversource Energy in the first quarter worth approximately $31,000. Institutional investors own 80.74% of the company’s stock.
Eversource Energy Company Profile (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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