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Eversource Energy ( (ES) ) has issued an announcement.
On January 27, 2025, Eversource Energy announced the sale of its subsidiary, Aquarion Water Company, to the newly established Aquarion Water Authority for approximately $2.4 billion. This transaction, expected to close in late 2025, will allow Eversource to focus on its core electric and natural gas operations, optimize its portfolio, and strengthen its balance sheet. The company anticipates a loss of about $300 million from the sale in its fourth-quarter 2024 results, which includes a $140 million income tax expense. Eversource reaffirms its long-term earnings growth target of 5% to 7% through 2028.
More about Eversource Energy
Eversource Energy is a leading utility company in the United States, providing electricity, natural gas, and water services to approximately 4.4 million customers in Connecticut, Massachusetts, and New Hampshire. Celebrated for its corporate citizenship and recognized as the #1 U.S. utility on TIME’s List of World’s Best Companies for 2024, Eversource is committed to delivering reliable energy and water services while advancing energy efficiency and clean energy initiatives.
YTD Price Performance: 1.55%
Average Trading Volume: 2,287,294
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $20.64B
For a thorough assessment of ES stock, go to TipRanks’ Stock Analysis page.