Principal Financial Group Inc. Boosts Stake in Eversource Energy (NYSE:ES)

Principal Financial Group Inc. boosted its position in Eversource Energy (NYSE:ES - Free Report) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 433,004 shares of the utilities provider's stock after buying an additional 14,799 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Eversource Energy worth $26,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sterling Investment Counsel LLC boosted its holdings in Eversource Energy by 4.9% during the first quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock worth $255,000 after buying an additional 190 shares in the last quarter. Ascent Group LLC increased its stake in shares of Eversource Energy by 1.2% in the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock valued at $1,129,000 after purchasing an additional 230 shares in the last quarter. Whittier Trust Co. raised its holdings in Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider's stock worth $444,000 after purchasing an additional 245 shares during the period. Assetmark Inc. boosted its position in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Finally, First Manhattan CO. LLC. increased its position in shares of Eversource Energy by 2.9% in the fourth quarter. First Manhattan CO. LLC. now owns 9,131 shares of the utilities provider's stock valued at $524,000 after buying an additional 255 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Trading Down 0.6%

NYSE:ES traded down $0.42 during trading hours on Friday, hitting $65.69. The company had a trading volume of 1,605,848 shares, compared to its average volume of 2,493,292. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The company has a market cap of $24.13 billion, a P/E ratio of 28.31, a P/E/G ratio of 2.45 and a beta of 0.62. The company has a 50-day moving average of $63.82 and a 200 day moving average of $60.69. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71.

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

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were given a $0.7525 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.58%. Eversource Energy's payout ratio is 129.74%.

Analyst Ratings Changes

Several research firms have issued reports on ES. BMO Capital Markets increased their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho increased their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three 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, the company presently has an average rating of "Hold" and an average price target of $65.67.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's 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 transaction, the executive vice president owned 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

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.