Eversource Energy (NYSE:ES) announced a — dividend on Wednesday, September 11th, Wall Street Journal reports. Investors of record on Friday, September 20th will be paid a dividend of 0.535 per share by the utilities provider on Monday, September 30th. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, September 19th.
Eversource Energy has increased its dividend payment by an average of 6.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Eversource Energy has a payout ratio of 65.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Eversource Energy to earn $3.64 per share next year, which means the company should continue to be able to cover its $2.14 annual dividend with an expected future payout ratio of 58.8%.
Shares of Eversource Energy stock traded up $0.82 during trading on Thursday, hitting $82.99. The company’s stock had a trading volume of 30,756 shares, compared to its average volume of 1,692,896. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.56. Eversource Energy has a 52 week low of $60.15 and a 52 week high of $83.10. The stock has a market cap of $26.47 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 4.23 and a beta of 0.20. The stock has a 50-day moving average price of $78.90 and a two-hundred day moving average price of $74.59.
In other news, CFO Philip J. Lembo sold 1,256 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $79.61, for a total value of $99,990.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gregory B. Butler sold 8,298 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $77.30, for a total transaction of $641,435.40. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
A number of brokerages recently issued reports on ES. Barclays lifted their price target on shares of Eversource Energy from $71.00 to $79.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 18th. Morgan Stanley lowered their price target on shares of Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Zacks Investment Research raised shares of Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. Bank of America set a $78.00 price target on shares of Eversource Energy and gave the company a “sell” rating in a research report on Monday, July 15th. Finally, Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $76.00 to $88.00 in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $78.17.
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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