Eversource Energy (NYSE:ES) Announces Quarterly Dividend of $0.64

Eversource Energy (NYSE:ESGet Rating) declared a quarterly dividend on Thursday, May 5th, Wall Street Journal reports. Stockholders of record on Thursday, May 19th will be paid a dividend of 0.6375 per share by the utilities provider on Thursday, June 30th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, May 18th.

Eversource Energy has increased its dividend payment by an average of 6.1% annually over the last three years and has increased its dividend annually for the last 25 consecutive years. Eversource Energy has a payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Eversource Energy to earn $4.37 per share next year, which means the company should continue to be able to cover its $2.55 annual dividend with an expected future payout ratio of 58.4%.

Shares of ES stock opened at $89.82 on Friday. The stock’s 50-day moving average is $87.72 and its 200 day moving average is $86.67. Eversource Energy has a 1-year low of $78.44 and a 1-year high of $94.63. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.51. The company has a market cap of $30.94 billion, a P/E ratio of 23.89, a PEG ratio of 3.41 and a beta of 0.42.

Eversource Energy (NYSE:ESGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.10. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $2.89 billion. Eversource Energy had a return on equity of 9.29% and a net margin of 12.34%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. On average, analysts anticipate that Eversource Energy will post 4.1 EPS for the current year.

In other Eversource Energy news, insider Linda Dorcena Forry sold 1,487 shares of Eversource Energy stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $79.18, for a total transaction of $117,740.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jay S. Buth sold 725 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $82.97, for a total transaction of $60,153.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,515 shares of company stock worth $734,010. Insiders own 0.38% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ES. EverSource Wealth Advisors LLC purchased a new stake in Eversource Energy in the fourth quarter valued at $34,000. Neo Ivy Capital Management purchased a new stake in Eversource Energy in the 4th quarter valued at about $35,000. First Community Trust NA acquired a new position in Eversource Energy in the fourth quarter valued at about $98,000. Zullo Investment Group Inc. purchased a new position in Eversource Energy during the fourth quarter worth about $113,000. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Eversource Energy during the 4th quarter worth approximately $131,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

ES has been the topic of a number of recent analyst reports. Wolfe Research lowered shares of Eversource Energy from an “outperform” rating to a “peer perform” rating and cut their price target for the company from $87.00 to $85.00 in a research note on Wednesday, March 9th. Wells Fargo & Company increased their price target on Eversource Energy from $92.00 to $97.00 in a research report on Thursday. Seaport Res Ptn reissued a “buy” rating on shares of Eversource Energy in a report on Monday, March 28th. Morgan Stanley raised their target price on Eversource Energy from $90.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 20th. Finally, BMO Capital Markets cut shares of Eversource Energy from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a research note on Monday, January 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $90.75.

About Eversource Energy (Get Rating)

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.

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Dividend History for Eversource Energy (NYSE:ES)

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