$2.04 Billion in Sales Expected for Eversource Energy (NYSE:ES) This Quarter

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.

A number of research firms recently commented on ES. KeyCorp upped their price target on shares of Eversource Energy from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Evercore ISI upgraded shares of Eversource Energy from an “underperform” rating to an “in-line” rating and decreased their price objective for the stock from $93.00 to $91.00 in a report on Monday, April 20th. UBS Group decreased their price objective on shares of Eversource Energy from $91.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Wells Fargo & Co upped their price objective on shares of Eversource Energy from $90.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Zacks Investment Research upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Monday, April 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $89.44.

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.

Further Reading: How are dividend achievers different from dividend aristocrats?

Get a free copy of the Zacks research report on Eversource Energy (ES)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.