Horizon Investments LLC Invests $934,000 in Eversource Energy (ES) Stock
Horizon Investments LLC bought a new stake in Eversource Energy (NYSE:ES) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,595 shares of the utilities provider’s stock, valued at approximately $934,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. acquired a new position in shares of Eversource Energy during the first quarter valued at about $106,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Eversource Energy by 24.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 400 shares during the period. NEXT Financial Group Inc raised its holdings in shares of Eversource Energy by 168.9% during the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 1,520 shares during the period. Van ECK Associates Corp raised its holdings in shares of Eversource Energy by 18.0% during the first quarter. Van ECK Associates Corp now owns 2,736 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 418 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Eversource Energy during the second quarter valued at about $200,000. Institutional investors and hedge funds own 71.88% of the company’s stock.
Several equities analysts have recently weighed in on ES shares. Zacks Investment Research upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, June 5th. Janney Montgomery Scott set a $71.00 price objective on shares of Eversource Energy and gave the company a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG lowered shares of Eversource Energy from a “buy” rating to a “hold” rating and upped their price objective for the company from $61.00 to $61.50 in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating on shares of Eversource Energy in a report on Tuesday, July 11th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $59.00 price objective on shares of Eversource Energy in a report on Tuesday, June 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Eversource Energy currently has a consensus rating of “Hold” and an average price target of $63.50.
Eversource Energy (NYSE:ES) traded down 0.63% during midday trading on Friday, hitting $61.05. 645,991 shares of the company were exchanged. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $64.19. The firm has a market capitalization of $19.35 billion, a PE ratio of 19.76 and a beta of 0.29. The stock has a 50 day moving average of $62.57 and a 200 day moving average of $60.87.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company posted $0.64 EPS. Eversource Energy’s revenue was down .2% on a year-over-year basis. On average, equities analysts predict that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.90 dividend on an annualized basis and a yield of 3.09%. Eversource Energy’s dividend payout ratio (DPR) is currently 61.49%.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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