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

Key Points

• Eversource reported quarterly EPS of $0.92, beating analyst expectations of $0.90 by $0.02. Revenue was $2.98 billion, below the $3.20 billion consensus estimate.
• Shares rose 1.8% to $70.27 during Wednesday trading following the results.
• The company’s quarterly dividend is $0.7875 per share, equivalent to $3.15 annually and a 4.5% yield; analysts’ average rating is Hold, with a $72.91 average price target.

Eversource Energy (NYSE:ES - Get Free Report) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02, FiscalAI reports. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.20 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.

Eversource Energy Stock Up 1.8%

Shares of ES traded up $1.24 during mid-day trading on Wednesday, reaching $70.27. The company's stock had a trading volume of 4,553,473 shares, compared to its average volume of 2,542,584. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74. Eversource Energy has a 12-month low of $62.72 and a 12-month high of $76.57. The stock has a market cap of $26.47 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 3.03 and a beta of 0.66. The company's 50 day moving average is $67.38 and its 200 day moving average is $70.02.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a $0.7875 dividend. The ex-dividend date was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. Eversource Energy's dividend payout ratio (DPR) is currently 81.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. HSBC began coverage on shares of Eversource Energy in a research report on Thursday, October 22nd. They set a "hold" rating and a $70.00 price objective for the company. Weiss Ratings upgraded Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. BMO Capital Markets decreased their price target on Eversource Energy from $73.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. cut their price objective on Eversource Energy from $73.00 to $68.00 and set an "underweight" rating on the stock in a report on Monday, October 19th. Finally, Citigroup initiated coverage on Eversource Energy in a research note on Monday, July 27th. They set a "hold" rating and a $81.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $72.91.

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.

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