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

Eversource Energy (NYSE:ES) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01, Briefing.com reports. Eversource Energy had a net margin of 12.50% and a return on equity of 9.43%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Eversource Energy updated its FY 2019 guidance to $3.40-3.50 EPS.

NYSE:ES traded up $0.85 during mid-day trading on Friday, hitting $77.39. The stock had a trading volume of 37,330 shares, compared to its average volume of 1,475,386. The firm’s 50-day simple moving average is $76.81. The company has a market capitalization of $24.28 billion, a P/E ratio of 23.66, a PEG ratio of 3.97 and a beta of 0.26. Eversource Energy has a twelve month low of $59.35 and a twelve month high of $78.53. The company has a quick ratio of 0.44, a current ratio of 0.50 and a debt-to-equity ratio of 1.06.

ES has been the subject of several recent research reports. Wells Fargo & Co raised their price objective on shares of Eversource Energy from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group raised their price objective on shares of Eversource Energy from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 7th. KeyCorp initiated coverage on shares of Eversource Energy in a research note on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 price objective for the company. Zacks Investment Research raised shares of Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a research note on Monday, June 17th. Finally, Morgan Stanley raised their price objective on shares of Eversource Energy from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $76.42.

In related news, EVP Leon J. Olivier sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $72.95, for a total value of $510,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of ES. Centersquare Investment Management LLC raised its holdings in Eversource Energy by 368,643.4% during the first quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 3,575,841 shares in the last quarter. Norges Bank acquired a new position in shares of Eversource Energy in the 4th quarter valued at $166,695,000. Pictet Asset Management Ltd. boosted its holdings in shares of Eversource Energy by 94.6% in the 1st quarter. Pictet Asset Management Ltd. now owns 2,559,184 shares of the utilities provider’s stock valued at $181,574,000 after buying an additional 1,243,788 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Eversource Energy by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,536,032 shares of the utilities provider’s stock valued at $108,980,000 after buying an additional 1,005,866 shares during the last quarter. Finally, Unigestion Holding SA grew its position in shares of Eversource Energy by 152.4% in the 2nd quarter. Unigestion Holding SA now owns 610,858 shares of the utilities provider’s stock valued at $46,279,000 after buying an additional 368,811 shares during the last quarter. 73.80% of the stock is currently owned by hedge funds and other 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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Earnings History for Eversource Energy (NYSE:ES)

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