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.
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.
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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