Eversource Energy (NYSE:ES) Declares $0.54 — Dividend

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Eversource Energy (NYSE:ES) declared a — dividend on Wednesday, September 11th, Wall Street Journal reports. Stockholders of record on Friday, September 20th will be given 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 by an average of 6.5% annually over the last three years and has raised its dividend every year for the last 3 years. Eversource Energy has a dividend payout ratio of 65.8% indicating that 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%.

NYSE ES traded up $0.30 during mid-day trading on Wednesday, reaching $82.17. 1,680,504 shares of the stock were exchanged, compared to its average volume of 1,692,896. The stock has a market capitalization of $26.47 billion, a PE ratio of 25.05, a PEG ratio of 4.23 and a beta of 0.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.56 and a current ratio of 0.61. Eversource Energy has a 1-year low of $60.15 and a 1-year high of $83.10. The business’s fifty day simple moving average is $78.78 and its 200 day simple moving average is $74.53.

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

Several research firms recently commented on ES. KeyCorp began coverage on Eversource Energy in a research note on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 target price for the company. Wells Fargo & Co raised their price target on Eversource Energy from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Morgan Stanley decreased their price target on Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Guggenheim upgraded 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 report on Wednesday, September 4th. Finally, UBS Group upped their price objective on shares of Eversource Energy from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Eversource Energy has a consensus rating of “Hold” and a consensus price target of $78.17.

In related news, CFO Philip J. Lembo sold 1,256 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. Also, VP Gregory B. Butler sold 8,298 shares of Eversource Energy stock in a transaction that occurred on Friday, August 2nd. The shares were 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. Corporate insiders own 0.37% of the company’s stock.

About Eversource Energy

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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