Allspring Global Investments Holdings LLC Purchases 13,360 Shares of Eversource Energy (NYSE:ES)

Allspring Global Investments Holdings LLC lifted its holdings in Eversource Energy (NYSE:ES - Free Report) by 13.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 115,079 shares of the utilities provider's stock after acquiring an additional 13,360 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Eversource Energy were worth $7,145,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in Eversource Energy by 105.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock valued at $287,000 after buying an additional 2,374 shares during the last quarter. LSV Asset Management bought a new stake in Eversource Energy during the 4th quarter valued at $2,223,000. Golden State Wealth Management LLC raised its holdings in Eversource Energy by 233.9% during the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after buying an additional 580 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Eversource Energy by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock valued at $90,146,000 after buying an additional 151,562 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Eversource Energy by 9.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider's stock valued at $31,455,000 after buying an additional 47,189 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ES shares. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 price target (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, BMO Capital Markets boosted their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Eversource Energy has a consensus rating of "Hold" and a consensus target price of $65.67.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president directly owned 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Eversource Energy Trading Down 0.2%

Eversource Energy stock traded down $0.15 during mid-day trading on Monday, reaching $64.40. 1,644,566 shares of the company traded hands, compared to its average volume of 2,495,554. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The firm's 50 day moving average price is $63.33 and its 200 day moving average price is $60.51. The firm has a market capitalization of $23.66 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 2.40 and a beta of 0.62. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting analysts' consensus estimates of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company's revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 EPS. On average, analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Thursday, May 15th. Eversource Energy's dividend payout ratio is presently 129.74%.

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.