Eversource Energy (NYSE:ES) Releases Earnings Results, Misses Expectations By $0.07 EPS

Eversource Energy (NYSE:ES) released its earnings results on Thursday. The utilities provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.07), FiscalAI reports. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.94 billion.

Eversource Energy Stock Up 0.3%

Shares of ES traded up $0.20 during mid-day trading on Thursday, reaching $70.42. The company had a trading volume of 2,783,862 shares, compared to its average volume of 2,487,021. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The company has a market capitalization of $26.42 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.96 and a beta of 0.77. The firm has a 50-day moving average price of $68.24 and a 200 day moving average price of $68.37. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.7875 per share. The ex-dividend date is Thursday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 annualized dividend and a dividend yield of 4.5%. Eversource Energy’s dividend payout ratio (DPR) is 82.47%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ES. Janney Montgomery Scott raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Monday, November 24th. UBS Group dropped their target price on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. TD Cowen initiated coverage on Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price on the stock. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $71.50.

Institutional Investors Weigh In On Eversource Energy

Institutional investors have recently modified their holdings of the stock. Cibc World Markets Corp bought a new position in shares of Eversource Energy during the fourth quarter valued at $3,504,000. Tocqueville Asset Management L.P. grew its position in Eversource Energy by 63.1% during the 4th quarter. Tocqueville Asset Management L.P. now owns 5,219 shares of the utilities provider’s stock valued at $351,000 after purchasing an additional 2,019 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Eversource Energy by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,986,183 shares of the utilities provider’s stock worth $133,733,000 after buying an additional 13,145 shares during the last quarter. Federated Hermes Inc. raised its holdings in Eversource Energy by 71.4% in the fourth quarter. Federated Hermes Inc. now owns 6,086 shares of the utilities provider’s stock worth $410,000 after buying an additional 2,536 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Eversource Energy by 5.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 99,848 shares of the utilities provider’s stock valued at $6,723,000 after buying an additional 5,318 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.