Eversource Energy (ES) to Issue Quarterly Dividend of $0.72 on September 30th

Eversource Energy (NYSE:ES) announced a quarterly dividend on Thursday, September 12th, RTT News reports. Stockholders of record on Monday, September 23rd will be given a dividend of 0.715 per share by the utilities provider on Monday, September 30th. This represents a $2.86 annualized dividend and a dividend yield of 4.21%.

Eversource Energy has a dividend payout ratio of 59.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Eversource Energy to earn $4.81 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 59.5%.

Eversource Energy Stock Up 0.7 %

ES opened at $67.97 on Friday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of -57.60, a P/E/G ratio of 2.59 and a beta of 0.61. The business has a 50 day moving average of $64.73 and a 200-day moving average of $61.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. As a group, sell-side analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on ES shares. Bank of America raised their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Scotiabank raised their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets reduced their target price on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, August 19th. Finally, Barclays lifted their price objective on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.93.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.