Horizon Investment Services LLC Invests $215,000 in Eversource Energy $ES

Horizon Investment Services LLC bought a new stake in shares of Eversource Energy (NYSE:ES) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,379 shares of the utilities provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ES. Nuveen LLC purchased a new position in shares of Eversource Energy during the 1st quarter valued at about $286,130,000. Wellington Management Group LLP lifted its holdings in Eversource Energy by 4.5% during the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after purchasing an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd boosted its position 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 purchasing an additional 401,866 shares during the period. Vanguard Group Inc. increased 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 purchasing an additional 351,780 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Eversource Energy by 244.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 373,788 shares of the utilities provider’s stock valued at $23,780,000 after purchasing an additional 265,290 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Eversource Energy Stock Down 1.9%

NYSE:ES opened at $71.54 on Friday. The company has a market cap of $26.55 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 2.62 and a beta of 0.69. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The stock has a fifty day simple moving average of $69.63 and a 200-day simple moving average of $65.87.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.19%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Monday, September 22nd were paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s payout ratio is 82.47%.

Wall Street Analyst Weigh In

A number of research firms have commented on ES. Wells Fargo & Company initiated coverage on Eversource Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price target on the stock. Mizuho boosted their target price on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. BMO Capital Markets lowered their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday. UBS Group downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Thursday. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $72.70.

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.