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.
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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