Q3 EPS Estimates for Eversource Energy Increased by KeyCorp

Eversource Energy (NYSE:ES) – Stock analysts at KeyCorp raised their Q3 2024 EPS estimates for shares of Eversource Energy in a report issued on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $1.12 per share for the quarter, up from their previous estimate of $1.03. The consensus estimate for Eversource Energy’s current full-year earnings is $4.57 per share. KeyCorp also issued estimates for Eversource Energy’s Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $4.56 EPS, FY2025 earnings at $4.80 EPS, FY2026 earnings at $5.10 EPS and FY2028 earnings at $5.76 EPS.

Several other research firms have also weighed in on ES. BMO Capital Markets dropped their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Mizuho upped their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley upped their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $66.82 on Thursday. The firm has a 50 day simple moving average of $66.49 and a 200 day simple moving average of $62.43. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.28%. Eversource Energy’s dividend payout ratio (DPR) is -1,059.26%.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Institutional Trading of Eversource Energy

A number of hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased its position in shares of Eversource Energy by 14.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 169 shares in the last quarter. Addison Advisors LLC increased its position in shares of Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 185 shares in the last quarter. Bar Harbor Wealth Management increased its position in shares of Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 190 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after purchasing an additional 192 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Company Profile

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.