Eversource Energy (NYSE:ES) Updates FY24 Earnings Guidance

Eversource Energy (NYSE:ES) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $4.52-$4.60 for the period, compared to the consensus earnings per share estimate of $4.56. Eversource Energy also updated its FY 2024 guidance to 4.520-4.600 EPS.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley lifted 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. Wells Fargo & Company boosted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank upped their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets decreased their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Down 0.4 %

Eversource Energy stock traded down $0.27 during mid-day trading on Monday, reaching $63.40. The stock had a trading volume of 2,063,329 shares, compared to its average volume of 2,391,751. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of -235.81, a PEG ratio of 2.57 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a one year low of $52.09 and a one year high of $69.01. The company has a 50-day moving average price of $66.42 and a two-hundred day moving average price of $62.79.

Eversource Energy Announces Dividend

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

Insider Buying and Selling

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

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.