Eversource Energy Plans Quarterly Dividend of $0.48 (ES)
Eversource Energy (NYSE:ES) declared a quarterly dividend on Thursday, September 7th, NASDAQ reports. Shareholders of record on Tuesday, September 19th will be given a dividend of 0.475 per share by the utilities provider on Friday, September 29th. This represents a $1.90 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, September 18th.
Eversource Energy has a dividend payout ratio of 59.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eversource Energy to earn $3.34 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 56.9%.
Eversource Energy (NYSE ES) opened at 63.20 on Friday. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $63.67. The firm has a 50-day moving average price of $62.14 and a 200-day moving average price of $60.59. The firm has a market cap of $20.03 billion, a price-to-earnings ratio of 20.45 and a beta of 0.29.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts expect that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on ES shares. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, June 21st. Morgan Stanley reiterated an “equal weight” rating on shares of Eversource Energy in a research note on Tuesday, July 11th. Credit Suisse Group reissued a “hold” rating and set a $59.00 price objective on shares of Eversource Energy in a report on Tuesday, June 6th. BidaskClub downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Barclays PLC reissued an “equal weight” rating and set a $66.00 price objective (up previously from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Eversource Energy has an average rating of “Hold” and a consensus target price of $62.95.
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About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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