Eversource Energy $ES Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Eversource Energy (NYSE:ES) by 8.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 105,489 shares of the utilities provider’s stock after selling 9,590 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Eversource Energy were worth $6,809,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock worth $2,792,559,000 after acquiring an additional 351,780 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock worth $1,068,901,000 after acquiring an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in shares of Eversource Energy by 6.2% in the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock worth $427,090,000 after acquiring an additional 401,866 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Eversource Energy by 0.5% in the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock worth $374,920,000 after acquiring an additional 32,304 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Eversource Energy by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock worth $354,177,000 after acquiring an additional 185,146 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In related news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares of the company’s stock, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen assumed coverage on Eversource Energy in a research note on Thursday. They set a “hold” rating and a $76.00 price objective on the stock. Mizuho upped their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Eversource Energy in a research note on Wednesday, October 8th. Finally, Bank of America upped their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.67.

Eversource Energy Stock Up 1.6%

NYSE:ES opened at $72.52 on Monday. The firm has a market capitalization of $26.91 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 2.82 and a beta of 0.67. The stock has a 50 day moving average of $67.27 and a 200-day moving average of $64.27. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $74.46. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.2%. Eversource Energy’s dividend payout ratio is 129.18%.

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.