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

Allspring Global Investments Holdings LLC lifted its stake in Eversource Energy (NYSE:ES - Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,079 shares of the utilities provider's stock after purchasing an additional 13,360 shares during the period. Allspring Global Investments Holdings LLC's holdings in Eversource Energy were worth $7,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Eversource Energy by 49.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,294 shares of the utilities provider's stock valued at $3,685,000 after buying an additional 20,063 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in Eversource Energy by 20.1% during the first quarter. Illinois Municipal Retirement Fund now owns 123,473 shares of the utilities provider's stock worth $7,669,000 after buying an additional 20,701 shares during the period. Old North State Wealth Management LLC grew its stake in Eversource Energy by 34.9% during the first quarter. Old North State Wealth Management LLC now owns 6,813 shares of the utilities provider's stock worth $424,000 after buying an additional 1,761 shares during the period. PDS Planning Inc purchased a new stake in Eversource Energy during the first quarter worth approximately $228,000. Finally, Sequoia Financial Advisors LLC grew its stake in Eversource Energy by 11.0% during the first quarter. Sequoia Financial Advisors LLC now owns 20,212 shares of the utilities provider's stock worth $1,255,000 after buying an additional 2,010 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Trading Up 0.2%

ES stock traded up $0.12 during midday trading on Friday, reaching $64.57. The stock had a trading volume of 1,471,270 shares, compared to its average volume of 2,494,896. The business has a fifty day simple moving average of $63.23 and a two-hundred day simple moving average of $60.40. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71. The firm has a market cap of $23.72 billion, a price-to-earnings ratio of 27.83, a PEG 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 issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 EPS. As a group, research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president owned 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ES shares. BMO Capital Markets upped their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. 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. reaffirmed an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $65.67.

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.