KeyCorp Weighs in on Eversource Energy’s Q2 2021 Earnings (NYSE:ES)

Eversource Energy (NYSE:ES) – Stock analysts at KeyCorp issued their Q2 2021 earnings estimates for Eversource Energy in a report released on Tuesday, January 12th. KeyCorp analyst S. Karp forecasts that the utilities provider will earn $0.88 per share for the quarter. KeyCorp has a “Overweight” rating and a $93.00 price objective on the stock. KeyCorp also issued estimates for Eversource Energy’s Q4 2021 earnings at $0.90 EPS.

Eversource Energy (NYSE:ES) last released its earnings results on Friday, November 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.02. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.29 billion. Eversource Energy had a return on equity of 8.88% and a net margin of 13.57%. Eversource Energy’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS.

A number of other analysts also recently issued reports on the stock. Barclays raised their price target on shares of Eversource Energy from $88.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 18th. Credit Suisse Group upped their target price on shares of Eversource Energy from $81.00 to $82.00 and gave the company an “underperform” rating in a research note on Tuesday, November 3rd. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $87.00 price target on the stock in a research report on Monday, October 5th. BidaskClub downgraded shares of Eversource Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 8th. Finally, Morgan Stanley cut their target price on shares of Eversource Energy from $89.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, December 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Eversource Energy currently has an average rating of “Hold” and a consensus price target of $91.60.

NYSE ES opened at $90.16 on Thursday. The company has a market cap of $30.91 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.52 and a beta of 0.28. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.89 and a quick ratio of 0.83. Eversource Energy has a 1 year low of $60.69 and a 1 year high of $99.42. The stock’s fifty day moving average price is $86.48 and its 200 day moving average price is $87.23.

Several institutional investors and hedge funds have recently modified their holdings of ES. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Eversource Energy by 98.5% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,048,835 shares of the utilities provider’s stock worth $337,146,000 after acquiring an additional 2,009,258 shares during the period. BlackRock Inc. increased its holdings in Eversource Energy by 4.0% in the 3rd quarter. BlackRock Inc. now owns 30,324,028 shares of the utilities provider’s stock worth $2,533,571,000 after purchasing an additional 1,156,239 shares in the last quarter. Magellan Asset Management Ltd boosted its position in Eversource Energy by 3.2% during the 3rd quarter. Magellan Asset Management Ltd now owns 24,594,030 shares of the utilities provider’s stock valued at $2,054,831,000 after acquiring an additional 769,905 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Eversource Energy by 185.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 565,915 shares of the utilities provider’s stock valued at $47,089,000 after purchasing an additional 367,406 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Eversource Energy by 388.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 390,674 shares of the utilities provider’s stock worth $32,641,000 after acquiring an additional 310,766 shares during the period. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Tuesday, December 22nd were paid a $0.5675 dividend. The ex-dividend date of this dividend was Monday, December 21st. This is a boost from Eversource Energy’s previous quarterly dividend of $0.57. This represents a $2.27 annualized dividend and a dividend yield of 2.52%. Eversource Energy’s dividend payout ratio (DPR) is presently 65.80%.

Eversource Energy Company Profile

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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