Eversource Energy Announces Quarterly Dividend of $0.72 (NYSE:ES)

Eversource Energy (NYSE:ES) declared a quarterly dividend on Wednesday, December 4th,RTT News reports. Shareholders of record on Wednesday, December 18th will be paid a dividend of 0.715 per share by the utilities provider on Tuesday, December 31st. This represents a $2.86 annualized dividend and a yield of 4.63%.

Eversource Energy has a dividend payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Eversource Energy to earn $4.80 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 59.6%.

Eversource Energy Stock Performance

ES stock traded up $0.48 during midday trading on Wednesday, hitting $61.79. The stock had a trading volume of 2,828,976 shares, compared to its average volume of 2,377,247. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of -39.45, a P/E/G ratio of 2.55 and a beta of 0.60. The stock has a 50-day simple moving average of $64.17 and a 200 day simple moving average of $63.05. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. As a group, equities research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ES shares. Barclays lifted their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets dropped their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Morgan Stanley increased their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Mizuho increased their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.15.

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.