Principal Financial Group Inc. Sells 11,477 Shares of Eversource Energy $ES

Principal Financial Group Inc. lowered its position in Eversource Energy (NYSE:ES) by 2.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 421,939 shares of the utilities provider’s stock after selling 11,477 shares during the period. Principal Financial Group Inc.’s holdings in Eversource Energy were worth $29,232,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lodestone Wealth Management LLC purchased a new position in Eversource Energy during the fourth quarter valued at $25,000. Activest Wealth Management grew its position in shares of Eversource Energy by 2,337.5% in the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after buying an additional 374 shares during the period. TFC Financial Management Inc. grew its position in shares of Eversource Energy by 2,857.1% in the 4th quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after buying an additional 400 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in shares of Eversource Energy in the 4th quarter worth about $28,000. Finally, Key Capital Management INC bought a new position in shares of Eversource Energy in the 4th quarter worth about $29,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Price Performance

Shares of ES opened at $74.66 on Monday. The company has a market capitalization of $28.08 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 4.94 and a beta of 0.70. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average of $70.72 and a 200 day moving average of $70.30. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.14. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the firm posted $1.50 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities research analysts anticipate that Eversource Energy will post 4.65 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th were issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Eversource Energy’s dividend payout ratio is presently 67.31%.

Wall Street Analysts Forecast Growth

ES has been the subject of several recent research reports. Argus lowered shares of Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Seaport Research Partners downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Scotiabank reduced their price objective on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Tuesday, April 21st. UBS Group lowered their price objective on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, Wells Fargo & Company boosted their target price on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $71.91.

Insider Activity

In related news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total transaction of $489,160.00. Following the sale, the vice president directly owned 56,179 shares of the company’s stock, valued at $3,925,788.52. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.