Eversource Energy (NYSE:ES) Releases FY 2024 Earnings Guidance

Eversource Energy (NYSE:ES) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.520-4.600 for the period, compared to the consensus earnings per share estimate of 4.560. The company issued revenue guidance of -. Eversource Energy also updated its FY24 guidance to $4.52-$4.60 EPS.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ES shares. Morgan Stanley increased their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Mizuho raised their target price 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, Bank of America increased their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Eversource Energy has a consensus rating of “Hold” and an average price target of $70.07.

Eversource Energy Stock Performance

ES traded down $0.27 on Monday, reaching $63.40. The company had a trading volume of 2,061,515 shares, compared to its average volume of 2,391,751. The stock has a market cap of $22.66 billion, a P/E ratio of -234.81, a P/E/G ratio of 2.57 and a beta of 0.61. 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 has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The company’s fifty day moving average is $66.35 and its 200 day moving average is $62.82.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.51%. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.