Eversource Energy (NYSE:ES - Get Free Report) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.7525 per share by the utilities provider on Monday, March 31st. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.25%. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72.
Eversource Energy has increased its dividend by an average of 5.9% per year over the last three years. Eversource Energy has a payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eversource Energy to earn $4.77 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 60.0%.
Eversource Energy Price Performance
Shares of ES traded down $0.32 on Wednesday, hitting $57.37. The company's stock had a trading volume of 2,657,560 shares, compared to its average volume of 2,528,537. The company has a 50 day moving average price of $58.85 and a 200 day moving average price of $62.90. Eversource Energy has a fifty-two week low of $52.71 and a fifty-two week high of $69.01. The company has a market capitalization of $21.02 billion, a PE ratio of -36.54, a PEG ratio of 2.13 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76.
Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on ES shares. Scotiabank cut Eversource Energy from a "sector perform" rating to a "sector underperform" rating and dropped their price objective for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Barclays dropped their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a "market perform" rating on the stock in a research note on Tuesday, October 15th. Mizuho increased their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group cut their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of "Hold" and a consensus price target of $67.42.
Read 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.
Further Reading
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