Eversource Energy (ES) To Go Ex-Dividend on September 23rd

Eversource Energy (NYSE:ES) declared a quarterly dividend on Thursday, September 12th, RTT News reports. Shareholders of record on Monday, September 23rd will be given a dividend of 0.715 per share by the utilities provider on Monday, September 30th. This represents a $2.86 annualized dividend and a yield of 4.26%. The ex-dividend date is Monday, September 23rd.

Eversource Energy has a payout ratio of 59.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eversource Energy to earn $4.81 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 59.5%.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $67.14 on Friday. The firm has a market capitalization of $23.65 billion, a PE ratio of -56.90, a PEG ratio of 2.59 and a beta of 0.61. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The business’s 50 day moving average is $65.64 and its 200-day moving average is $61.32.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

ES has been the subject of a number of analyst reports. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Barclays raised their target price on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Wells Fargo & Company upped their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Scotiabank lifted their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets lowered their target price on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.93.

Eversource Energy Company Profile

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.