Eversource Energy (ES) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $0.77 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.78. The company posted revenue of $2055.60 million in the period, compared to analysts expectations of $2312.97 million. The company’s revenue was down -18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.
Many Wall Street Analysts have commented on Eversource Energy. Company shares were Reiterated by Mizuho on May 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 59 from a previous price target of $54 .Company shares were Reiterated by Argus on Feb 10, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $59 .Eversource Energy was Downgraded by Macquarie to ” Neutral” on Feb 8, 2016.
Eversource Energy opened for trading at $56.6 and hit $57.32 on the upside on Monday, eventually ending the session at $57.07, with a gain of 1.12% or 0.63 points. The heightened volatility saw the trading volume jump to 13,29,853 shares. Company has a market cap of $18,102 M.
In a different news, on Mar 10, 2016, Werner J Schweiger (Executive VP and COO) sold 10,000 shares at $57.00 per share price. According to the SEC, on Dec 9, 2015, Gregory B Butler (Sr VP and General Counsel) sold 9,770 shares at $50.88 per share price. On Oct 19, 2015, Thomas J May (Chrmn of Bd, President & CEO) sold 13,380 shares at $52.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Eversource Energy formerly Northeast Utilities is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution electric transmission and natural gas distribution. The Company’s electric distribution segment provides electricity to retail customers in Connecticut and eastern Massachusetts. The electric transmission segment owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England. The natural gas distribution segment provides firm natural gas sales service to retail customers who require a continuous natural gas supply throughout the year such as residential customers who rely on natural gas for heating hot water and cooking needs and commercial and industrial customers who choose to purchase natural gas from the Company’s natural gas distribution companies.