Eversource Energy (NYSE:ES) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Eversource Energy (NYSE:ES) issued its quarterly earnings data on Tuesday. The utilities provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01, Zacks reports. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%.

Eversource Energy Price Performance

Shares of NYSE ES traded up $1.12 during trading on Tuesday, hitting $61.61. The company had a trading volume of 3,071,870 shares, compared to its average volume of 2,966,120. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of -39.24, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. The stock has a fifty day simple moving average of $57.93 and a two-hundred day simple moving average of $62.72. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a fifty-two week low of $53.76 and a fifty-two week high of $69.01.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is presently -182.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ES shares. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Barclays decreased their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday. Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the company from $66.00 to $56.00 in a research report on Thursday, December 12th. Finally, Jefferies Financial Group dropped their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.42.

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.