Eversource Energy (NYSE:ES) Announces Quarterly Dividend of $0.72

Eversource Energy (NYSE:ES) announced a quarterly dividend on Thursday, September 12th, RTT News reports. Shareholders of record on Monday, September 23rd will be paid a dividend of 0.715 per share by the utilities provider on Monday, September 30th. This represents a $2.86 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Monday, September 23rd.

Eversource Energy has a dividend payout ratio of 59.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of ES opened at $67.14 on Friday. 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 $23.65 billion, a P/E ratio of -56.90, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The firm’s fifty day simple moving average is $65.64 and its two-hundred day simple moving average is $61.34. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Eversource Energy

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

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.