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Eversource Energy ( (ES) ) has provided an update.
On March 19, 2026, the Federal Energy Regulatory Commission set a base return on equity of 9.57% and a maximum incentive ROE of 12.09% for New England transmission owners, prompting Eversource Energy to challenge the order as inconsistent with the Federal Power Act and based on outdated data. Eversource warned that the ruling, including potential retroactive refunds beyond the usual statutory limit, could undermine investor confidence, raise capital costs, slow critical transmission expansion and increase long‑term customer costs, and said the lower allowed ROE is expected to cut its 2026 after‑tax earnings by about $70 million and has led it to trim its 2026 non‑GAAP earnings guidance to $4.57–$4.72 per share, while still targeting 5–7% annual EPS growth through 2030 from a $4.65 base.
Eversource and other New England transmission owners are preparing legal and regulatory responses, including a request for rehearing, a motion for stay and a potential Section 205 rate filing, while any required customer refunds tied to prior periods would be spread over 18 to 24 months if the order is upheld. The company argues that FERC’s long period of inaction and the new ROE framework heighten regulatory risk, increase the likelihood of credit downgrades and could make future transmission projects more expensive, ultimately threatening regional reliability, affordability and economic growth despite past transmission investments that have delivered significant congestion‑related savings for customers.
The most recent analyst rating on (ES) stock is a Hold with a $73.00 price target. To see the full list of analyst forecasts on Eversource Energy stock, see the ES Stock Forecast page.
Spark’s Take on ES Stock
According to Spark, TipRanks’ AI Analyst, ES is a Neutral.
The score is held back primarily by weaker cash flow conversion and elevated leverage despite improving profitability. Technicals are supportive with strong price momentum, and valuation is reasonable with a solid ~4% dividend yield. Management’s guidance is constructive, but sizable financing needs and regulatory/timing uncertainties temper the outlook.
To see Spark’s full report on ES stock, click here.
More about Eversource Energy
Eversource Energy, listed on the NYSE as ES, is a major New England utility and transmission owner focused on electric transmission infrastructure and related services in the region. The company invests heavily in expanding and modernizing the regional grid to support reliability, integrate additional energy supply and address energy affordability for customers across New England.
Average Trading Volume: 2,699,384
Technical Sentiment Signal: Buy
Current Market Cap: $25.69B
Learn more about ES stock on TipRanks’ Stock Analysis page.