Principal Securities Inc. Raises Stock Holdings in Eversource Energy (NYSE:ES)

Principal Securities Inc. raised its position in shares of Eversource Energy (NYSE:ES) by 24.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,093 shares of the utilities provider’s stock after purchasing an additional 412 shares during the quarter. Principal Securities Inc.’s holdings in Eversource Energy were worth $120,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its holdings in Eversource Energy by 1.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,368,000 after buying an additional 200 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Eversource Energy by 26.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,250 shares of the utilities provider’s stock valued at $2,042,000 after acquiring an additional 6,409 shares during the period. Forsta AP Fonden boosted its holdings in shares of Eversource Energy by 1.5% in the 3rd quarter. Forsta AP Fonden now owns 94,600 shares of the utilities provider’s stock valued at $6,438,000 after acquiring an additional 1,400 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Eversource Energy by 8.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 58,101 shares of the utilities provider’s stock worth $3,954,000 after acquiring an additional 4,281 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Eversource Energy by 2.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 101,201 shares of the utilities provider’s stock worth $6,776,000 after purchasing an additional 2,665 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.2 %

Shares of NYSE:ES opened at $63.79 on Wednesday. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. The business’s 50 day moving average price is $58.40 and its 200-day moving average price is $62.48. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.72%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s payout ratio is presently 130.30%.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.45.

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.