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Linda Dorcena Forry, a trustee at Eversource Energy (NYSE:ES), recently sold 1,000 shares of the company’s common stock. The transaction, completed on February 20, 2025, was executed at a price of $63.05 per share, resulting in a total sale value of $63,050. The utility company, currently valued at $23.27 billion, trades near $63.37 and offers a substantial 4.75% dividend yield. InvestingPro data shows the company has maintained an impressive 26-year streak of dividend increases.
Following this sale, Forry retains ownership of 10,995 shares, a figure that includes restricted share units and dividend equivalents. For investors seeking deeper insights, InvestingPro offers additional analysis with 8 more exclusive ProTips and a comprehensive Pro Research Report covering Eversource’s financial health and valuation metrics. The transaction was filed with the Securities and Exchange Commission on February 21, 2025.
In other recent news, Eversource Energy has reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $1.01, which aligns with Scotiabank (TSX:BNS)’s forecast and exceeds the consensus estimate of $0.99. This comes amid Scotiabank’s decision to downgrade Eversource’s stock rating to ’Sector Underperform’ and lower its price target from $66.00 to $56.00, citing challenges such as strained regulatory relationships and a weak credit profile. In contrast, Mizuho (NYSE:MFG) Securities has shown confidence in Eversource by raising its price target to $68 while maintaining an ’Outperform’ rating, reflecting optimism about the company’s regulatory conditions.
Additionally, Eversource has been added to the S&P 500 Dividend Aristocrats index, known for including companies with a consistent history of dividend increases. This inclusion highlights Eversource’s commitment to shareholder returns, offering a 4.96% dividend yield as of January 31, 2025. The company has also made a strategic acquisition of a 26-acre site from Constellation Energy (NASDAQ:CEG) in Everett, Massachusetts, aimed at enhancing the region’s clean energy capabilities and grid reliability.
The site is expected to serve as a key interconnection hub for renewable energy sources. Eversource’s Chairman, President, and CEO, Joe Nolan, emphasized the site’s potential to support Massachusetts’ clean energy transition. The company plans to collaborate with local and state officials to develop a plan that aligns with decarbonization and electrification goals. These developments reflect Eversource’s ongoing efforts to address regulatory challenges and strengthen its position in the utility sector.
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