Eversource Energy (ES) to Issue Quarterly Dividend of $0.75 on December 31st

by · The Cerbat Gem

Eversource Energy (NYSE:ES – Get Free Report) announced a quarterly dividend on Wednesday, December 3rd. Investors of record on Wednesday, December 17th will be given a dividend of 0.7525 per share by the utilities provider on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, December 17th.

Eversource Energy has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Eversource Energy has a dividend payout ratio of 60.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eversource Energy to earn $5.02 per share next year, which means the company should continue to be able to cover its $3.01 annual dividend with an expected future payout ratio of 60.0%.

Eversource Energy Trading Up 1.1%

Eversource Energy stock opened at $68.22 on Monday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The firm has a market capitalization of $25.60 billion, a PE ratio of 18.69, a PEG ratio of 2.42 and a beta of 0.76. The business’s 50-day simple moving average is $70.73 and its 200-day simple moving average is $67.29.

Eversource Energy (NYSE:ES – Get Free Report) last announced its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Eversource Energy’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ES. TD Cowen started coverage on Eversource Energy in a research report on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price for the company. Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a report on Monday, November 24th. Mizuho reissued a “neutral” rating and issued a $68.00 price objective (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Finally, BMO Capital Markets reduced their price target on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $71.73.

Check Out Our Latest Analysis on ES

About Eversource Energy

(Get Free Report)

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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