Principal Financial Group Inc. raised its position in Eversource Energy (NYSE:ES) by 2.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 482,302 shares of the utilities provider’s stock after buying an additional 10,697 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Eversource Energy worth $28,349,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Thomaspartners Inc. boosted its position in shares of Eversource Energy by 9.4% in the first quarter. Thomaspartners Inc. now owns 3,947,433 shares of the utilities provider’s stock worth $232,030,000 after buying an additional 339,289 shares in the last quarter. Norges Bank bought a new stake in Eversource Energy during the fourth quarter worth approximately $217,140,000. American Century Companies Inc. raised its stake in Eversource Energy by 10.0% in the first quarter. American Century Companies Inc. now owns 2,103,664 shares of the utilities provider’s stock worth $123,653,000 after buying an additional 191,070 shares during the last quarter. Energy Income Partners LLC acquired a new stake in shares of Eversource Energy during the fourth quarter valued at about $100,497,000. Finally, Edge Asset Management Inc. raised its stake in shares of Eversource Energy by 5.4% in the fourth quarter. Edge Asset Management Inc. now owns 1,755,092 shares of the utilities provider’s stock valued at $96,934,000 after buying an additional 89,217 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Shares of Eversource Energy (NYSE ES) traded up 0.024% during midday trading on Tuesday, reaching $62.805. The company had a trading volume of 323,452 shares. The firm’s 50 day moving average price is $61.04 and its 200-day moving average price is $57.92. The stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 20.865 and a beta of 0.32. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $63.34.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by $0.01. Eversource Energy had a net margin of 12.45% and a return on equity of 8.98%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Equities research analysts expect that Eversource Energy will post $3.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, May 26th. Eversource Energy’s dividend payout ratio is presently 63.12%.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Eversource Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC restated an “equal weight” rating and issued a $66.00 target price (up previously from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Morgan Stanley raised their target price on Eversource Energy from $63.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 6th. Credit Suisse Group restated a “hold” rating and issued a $59.00 target price on shares of Eversource Energy in a research report on Tuesday, June 6th. Finally, Citigroup Inc. boosted their target price on Eversource Energy from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Eversource Energy currently has an average rating of “Hold” and a consensus target price of $62.78.
In related news, VP Werner J. Schweiger sold 48,544 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $61.01, for a total value of $2,961,669.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 124,640 shares of company stock worth $7,600,901 over the last quarter. 0.53% of the stock is currently owned by insiders.
Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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