Horizon Investment Services LLC Purchases Shares of 3,379 Eversource Energy $ES

Horizon Investment Services LLC purchased a new stake in Eversource Energy (NYSE:ES) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,379 shares of the utilities provider’s stock, valued at approximately $215,000.

Several other large investors have also made changes to their positions in ES. Ballentine Partners LLC boosted its stake in shares of Eversource Energy by 4.9% in the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 277 shares during the last quarter. Hilltop National Bank bought a new position in shares of Eversource Energy during the 2nd quarter worth $32,000. Truist Financial Corp raised its stake in Eversource Energy by 60.7% in the 2nd quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider’s stock valued at $2,207,000 after acquiring an additional 13,112 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Eversource Energy by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 114,068 shares of the utilities provider’s stock worth $7,257,000 after purchasing an additional 1,077 shares in the last quarter. Finally, Arvest Investments Inc. grew its stake in Eversource Energy by 67.0% in the 2nd quarter. Arvest Investments Inc. now owns 25,114 shares of the utilities provider’s stock valued at $1,598,000 after buying an additional 10,079 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ES shares. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Mizuho raised their price objective on shares of Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Jefferies Financial Group increased their target price on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company initiated coverage on shares of Eversource Energy in a research report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price target for the company. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $72.70.

Insider Buying and Selling

In other news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $71.54 on Friday. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The stock has a market capitalization of $26.55 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.62 and a beta of 0.69. The company’s 50-day moving average is $69.63 and its 200 day moving average is $65.87. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a return on equity of 11.19% and a net margin of 10.22%.The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s payout ratio is presently 82.47%.

About Eversource Energy

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.