Eversource Energy said on September 14, 2023 that its board of directors declared a regular quarterly dividend of $0.68 per share ($2.70 annualized). Previously, the company paid $0.68 per share.
Shareholders of record as of September 25, 2023 will receive the payment on September 29, 2023.
At the current share price of $64.01 / share, the stock’s dividend yield is 4.22%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.94%, the lowest has been 2.32%, and the highest has been 4.33%. The standard deviation of yields is 0.38 (n=236).
The current dividend yield is 3.41 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.80. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1506 funds or institutions reporting positions in Eversource Energy. This is a decrease of 77 owner(s) or 4.86% in the last quarter. Average portfolio weight of all funds dedicated to ES is 0.23%, a decrease of 7.36%. Total shares owned by institutions decreased in the last three months by 3.83% to 304,207K shares. The put/call ratio of ES is 2.41, indicating a bearish outlook.
Analyst Price Forecast Suggests 27.59% Upside
As of August 31, 2023, the average one-year price target for Eversource Energy is 81.67. The forecasts range from a low of 67.67 to a high of $105.00. The average price target represents an increase of 27.59% from its latest reported closing price of 64.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Eversource Energy is 11,587MM, a decrease of 8.55%. The projected annual non-GAAP EPS is 4.50.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 10,872K shares representing 3.11% ownership of the company. In it’s prior filing, the firm reported owning 10,786K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in ES by 15.72% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 8,306K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 8,127K shares, representing an increase of 2.15%. The firm decreased its portfolio allocation in ES by 16.12% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 8,086K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 8,139K shares, representing a decrease of 0.67%. The firm decreased its portfolio allocation in ES by 13.58% over the last quarter.
Wells Fargo holds 7,864K shares representing 2.25% ownership of the company. In it’s prior filing, the firm reported owning 7,736K shares, representing an increase of 1.63%. The firm increased its portfolio allocation in ES by 163.35% over the last quarter.
Geode Capital Management holds 7,795K shares representing 2.23% ownership of the company. In it’s prior filing, the firm reported owning 7,549K shares, representing an increase of 3.16%. The firm decreased its portfolio allocation in ES by 15.34% over the last quarter.
Eversource Energy Background Information
(This description is provided by the company.)
Eversource transmits and delivers electricity and natural gas and supplies water to approximately 4.3 million customers in Connecticut, Massachusetts and New Hampshire. Recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization Ceres, Eversource harnesses the commitment of about 9,000 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service.
Additional reading:
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.