Allspring Global Investments Holdings LLC Has $7.15 Million Position in Eversource Energy (NYSE:ES)

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

A number of other institutional investors and hedge funds also recently modified their holdings of ES. Wellington Management Group LLP raised its position in shares of Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after purchasing an additional 4,585,232 shares during the period. Norges Bank acquired a new stake in Eversource Energy during the 4th quarter worth approximately $188,838,000. Amundi raised its holdings in Eversource Energy by 32.2% during the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock worth $367,691,000 after buying an additional 1,579,818 shares during the period. Vanguard Group Inc. lifted its stake in Eversource Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after buying an additional 1,387,072 shares in the last quarter. Finally, Vest Financial LLC acquired a new position in shares of Eversource Energy in the first quarter valued at approximately $60,273,000. 79.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction, the executive vice president directly owned 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company's stock.

Eversource Energy Stock Up 0.2%

NYSE ES traded up $0.12 during trading hours on Friday, hitting $64.57. 1,471,270 shares of the company traded hands, compared to its average volume of 2,497,873. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.66 and a current ratio of 0.75. The business's 50-day moving average is $63.23 and its 200-day moving average is $60.43. The stock has a market capitalization of $23.72 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.40 and a beta of 0.62. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting analysts' consensus estimates of $1.50. The business had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. Eversource Energy's quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. Sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.7525 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.66%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Analyst Upgrades and Downgrades

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

Eversource Energy 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.