Eversource Energy (NYSE:ES) declared a quarterly dividend on Wednesday, September 1st, RTT News reports. Stockholders of record on Thursday, September 16th will be given a dividend of 0.6025 per share by the utilities provider on Thursday, September 30th. This represents a $2.41 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, September 15th.
Eversource Energy has raised its dividend by 19.5% over the last three years and has increased its dividend annually for the last 1 consecutive years. Eversource Energy has a dividend payout ratio of 62.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eversource Energy to earn $4.08 per share next year, which means the company should continue to be able to cover its $2.41 annual dividend with an expected future payout ratio of 59.1%.
Shares of NYSE:ES opened at $88.35 on Tuesday. The business’s 50-day moving average is $88.13 and its 200 day moving average is $85.21. Eversource Energy has a 1 year low of $76.64 and a 1 year high of $96.66. The firm has a market capitalization of $30.36 billion, a P/E ratio of 24.34, a P/E/G ratio of 3.59 and a beta of 0.31. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.64 and a quick ratio of 0.60.
Several research analysts recently issued reports on the company. Barclays upped their target price on Eversource Energy from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 25th. Credit Suisse Group started coverage on Eversource Energy in a research note on Wednesday, July 14th. They set an “underperform” rating and a $85.00 price target on the stock. Mizuho downgraded Eversource Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $89.00 to $85.00 in a research note on Thursday, September 9th. Finally, Morgan Stanley boosted their price target on Eversource Energy from $81.00 to $85.00 and gave the company an “underweight” rating in a research note on Thursday, August 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $88.75.
In other Eversource Energy news, insider Linda Dorcena Forry sold 625 shares of the stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $87.79, for a total transaction of $54,868.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.
Eversource Energy Company Profile
Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Water Distribution and Natural Gas Distribution. The Electric Distribution segment distributes electricity to retail customers.
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