Wall Street analysts expect that Eversource Energy (NYSE:ES) will post sales of $2.04 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Eversource Energy’s earnings, with the highest sales estimate coming in at $2.21 billion and the lowest estimate coming in at $1.95 billion. Eversource Energy posted sales of $1.88 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The company is expected to issue its next earnings report on Wednesday, July 29th.
According to Zacks, analysts expect that Eversource Energy will report full-year sales of $9.02 billion for the current fiscal year, with estimates ranging from $8.71 billion to $9.81 billion. For the next year, analysts anticipate that the business will post sales of $9.33 billion, with estimates ranging from $9.00 billion to $10.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Eversource Energy.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. Eversource Energy had a net margin of 11.02% and a return on equity of 9.16%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the business posted $0.97 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year.
NYSE:ES traded down $0.36 during midday trading on Monday, reaching $78.46. 1,053,500 shares of the stock traded hands, compared to its average volume of 2,251,942. The company has a fifty day moving average of $82.56 and a 200 day moving average of $84.76. Eversource Energy has a 12 month low of $60.69 and a 12 month high of $99.42. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.67 and a current ratio of 0.75. The stock has a market capitalization of $26.40 billion, a P/E ratio of 27.53, a PEG ratio of 3.52 and a beta of 0.36.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 20th will be given a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Tuesday, May 19th. Eversource Energy’s dividend payout ratio is presently 65.80%.
In other news, VP Jay S. Buth sold 1,330 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $86.67, for a total value of $115,271.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ES. Magellan Asset Management Ltd grew its position in Eversource Energy by 57.9% during the 4th quarter. Magellan Asset Management Ltd now owns 16,049,012 shares of the utilities provider’s stock valued at $1,365,289,000 after purchasing an additional 5,882,982 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Eversource Energy by 91.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,467,337 shares of the utilities provider’s stock valued at $720,317,000 after purchasing an additional 4,052,069 shares during the last quarter. Norges Bank purchased a new stake in Eversource Energy during the 4th quarter valued at about $249,872,000. State Street Corp grew its position in Eversource Energy by 13.9% during the 1st quarter. State Street Corp now owns 20,738,944 shares of the utilities provider’s stock valued at $1,621,993,000 after purchasing an additional 2,530,839 shares during the last quarter. Finally, BlackRock Inc. grew its position in Eversource Energy by 5.5% during the 1st quarter. BlackRock Inc. now owns 30,425,832 shares of the utilities provider’s stock valued at $2,379,604,000 after purchasing an additional 1,575,796 shares during the last quarter. 77.81% of the stock is currently owned by institutional investors.
About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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