Eversource Energy (ES) Plans $0.54 Quarterly Dividend

Eversource Energy (NYSE:ES) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Thursday, May 23rd will be paid a dividend of 0.535 per share by the utilities provider on Friday, June 28th. This represents a $2.14 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Eversource Energy has raised its dividend payment by an average of 6.5% per year over the last three years and has increased its dividend every year for the last 3 years. Eversource Energy has a dividend payout ratio of 65.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Eversource Energy to earn $3.65 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 58.6%.

Shares of ES stock opened at $73.63 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.44 and a debt-to-equity ratio of 1.06. Eversource Energy has a one year low of $52.76 and a one year high of $74.08. The company has a market capitalization of $23.33 billion, a PE ratio of 22.45, a P/E/G ratio of 3.85 and a beta of 0.31.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Eversource Energy had a net margin of 12.50% and a return on equity of 9.43%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that Eversource Energy will post 3.45 earnings per share for the current year.

In other Eversource Energy news, insider Sanford Cloud, Jr. sold 1,042 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $68.87, for a total value of $71,762.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leon J. Olivier sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $72.95, for a total transaction of $510,650.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,201 shares of company stock worth $8,238,010. Insiders own 0.37% of the company’s stock.

Several equities research analysts recently weighed in on ES shares. Zacks Investment Research downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, March 18th. Bank of America downgraded shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 target price on the stock. in a research note on Monday, February 25th. Macquarie raised shares of Eversource Energy from a “neutral” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Monday, March 4th. Finally, Credit Suisse Group set a $76.00 target price on shares of Eversource Energy and gave the stock a “buy” rating in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.90.

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Eversource Energy Company Profile

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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