Eversource Energy (NYSE:ES) to Issue Quarterly Dividend of $0.60

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.

Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, July 29th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.01). Eversource Energy had a net margin of 13.11% and a return on equity of 9.27%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, analysts expect that Eversource Energy will post 3.83 EPS for the current year.

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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Dividend History for Eversource Energy (NYSE:ES)

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