Eversource Energy (NYSE:ES) Plans Quarterly Dividend of $0.64

Eversource Energy (NYSE:ESGet Rating) announced a quarterly dividend on Friday, September 16th, RTT News reports. Stockholders of record on Monday, September 26th will be given a dividend of 0.6375 per share by the utilities provider on Friday, September 30th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, September 23rd.

Eversource Energy has increased its dividend by an average of 6.1% annually over the last three years and has increased its dividend every year for the last 23 years. Eversource Energy has a dividend payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eversource Energy to earn $4.40 per share next year, which means the company should continue to be able to cover its $2.55 annual dividend with an expected future payout ratio of 58.0%.

Eversource Energy Stock Performance

NYSE ES opened at $87.83 on Thursday. Eversource Energy has a fifty-two week low of $77.07 and a fifty-two week high of $94.63. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.77. The firm has a market capitalization of $30.43 billion, a P/E ratio of 22.93, a PEG ratio of 3.40 and a beta of 0.44. The stock has a 50-day simple moving average of $89.52 and a two-hundred day simple moving average of $88.27.

Insiders Place Their Bets

In other news, VP Gregory B. Butler sold 5,000 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $91.33, for a total value of $456,650.00. Following the sale, the vice president now directly owns 71,814 shares in the company, valued at $6,558,772.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Institutional Trading of Eversource Energy

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in Eversource Energy during the first quarter worth approximately $192,000. Edgestream Partners L.P. acquired a new position in shares of Eversource Energy in the 1st quarter valued at $202,000. Atria Wealth Solutions Inc. purchased a new position in shares of Eversource Energy in the 1st quarter valued at $213,000. West Family Investments Inc. acquired a new position in Eversource Energy in the first quarter valued at $236,000. Finally, Fund Management at Engine No. 1 LLC purchased a new position in shares of Eversource Energy during the first quarter worth about $257,000. Institutional investors and hedge funds own 78.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ES shares. UBS Group increased their price target on shares of Eversource Energy to $89.00 in a report on Tuesday, September 6th. Wolfe Research upgraded Eversource Energy from a “peer perform” rating to an “outperform” rating and set a $96.00 price target for the company in a research note on Monday, August 1st. Barclays reduced their price target on shares of Eversource Energy from $97.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Evercore ISI lowered their price objective on Eversource Energy to $91.00 in a report on Tuesday, August 9th. Finally, Mizuho upped their target price on Eversource Energy from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $92.18.

Eversource Energy Company Profile

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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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Dividend History for Eversource Energy (NYSE:ES)

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