Q2 2023 Earnings Estimate for Eversource Energy (NYSE:ES) Issued By KeyCorp

Posted by Defense World Staff on May 22nd, 2023

Eversource Energy (NYSE:ES – Get Rating) – Equities researchers at KeyCorp increased their Q2 2023 earnings per share estimates for shares of Eversource Energy in a note issued to investors on Friday, May 19th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $0.89 per share for the quarter, up from their previous forecast of $0.87. The consensus estimate for Eversource Energy’s current full-year earnings is $4.36 per share. KeyCorp also issued estimates for Eversource Energy’s Q3 2023 earnings at $1.11 EPS and FY2023 earnings at $4.36 EPS.

Eversource Energy (NYSE:ES – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.24 billion. Eversource Energy had a return on equity of 9.51% and a net margin of 11.52%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share.

A number of other brokerages have also recently weighed in on ES. Wells Fargo & Company reduced their price target on Eversource Energy from $99.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. Evercore ISI upgraded Eversource Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $86.00 to $92.00 in a report on Tuesday, January 24th. StockNews.com initiated coverage on shares of Eversource Energy in a research report on Thursday. They issued a “hold” rating for the company. Morgan Stanley boosted their target price on shares of Eversource Energy from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 20th. Finally, BMO Capital Markets boosted their target price on shares of Eversource Energy from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Friday, April 14th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus price target of $87.58.

Eversource Energy Stock Performance

NYSE:ES opened at $73.17 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.65. Eversource Energy has a 1-year low of $70.54 and a 1-year high of $94.41. The firm has a 50-day moving average of $77.25 and a two-hundred day moving average of $79.60. The stock has a market cap of $25.52 billion, a P/E ratio of 17.55, a PEG ratio of 2.66 and a beta of 0.46.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, May 18th will be paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, May 17th. Eversource Energy’s dividend payout ratio is currently 64.75%.

Hedge Funds Weigh In On Eversource Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Sowa Financial Group Inc. raised its stake in shares of Eversource Energy by 0.9% during the 1st quarter. Sowa Financial Group Inc. now owns 14,800 shares of the utilities provider’s stock worth $1,158,000 after purchasing an additional 128 shares in the last quarter. Appleton Partners Inc. MA raised its position in Eversource Energy by 2.7% in the 4th quarter. Appleton Partners Inc. MA now owns 5,141 shares of the utilities provider’s stock valued at $431,000 after purchasing an additional 133 shares during the last quarter. United Capital Financial Advisers LLC raised its position in shares of Eversource Energy by 3.6% during the first quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock worth $342,000 after acquiring an additional 134 shares during the last quarter. SBB Research Group LLC raised its position in shares of Eversource Energy by 5.3% during the third quarter. SBB Research Group LLC now owns 2,710 shares of the utilities provider’s stock worth $211,000 after acquiring an additional 136 shares during the last quarter. Finally, FineMark National Bank & Trust increased its holdings in Eversource Energy by 2.1% in the third quarter. FineMark National Bank & Trust now owns 6,672 shares of the utilities provider’s stock valued at $520,000 after purchasing an additional 140 shares during the last quarter. 77.37% of the stock is currently owned by hedge funds and other institutional investors.

About Eversource Energy

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.