Eversource Energy Announces — Dividend of $0.54 (NYSE:ES)

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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.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Eversource Energy had a net margin of 10.00% and a return on equity of 9.24%. Eversource Energy’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. On average, equities analysts predict that Eversource Energy will post 3.43 EPS for the current fiscal year.

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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Dividend History for Eversource Energy (NYSE:ES)

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