Eversource Energy (ES)
NYSE:ES
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Eversource Energy
(NYSE:ES)
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Rating:56Neutral
Price Target:
$71.00
▲(2.20% Upside)
Action:ReiteratedDate:04/01/26
The score is held back primarily by mixed financial quality (elevated leverage and uneven/weak multi-year free cash flow) and bearish near-term technical momentum. Offsetting factors include supportive valuation (mid-teens P/E and ~4.45% yield) and generally constructive long-term growth messaging, though recent FERC ROE pressure and large financing needs add risk.
Positive Factors
Regulated, rate‑base earnings model
Eversource's core earnings derive from regulated delivery and transmission assets where returns and cost recovery are set by regulators. That creates durable, predictable cash flows linked to utility rate base growth and approved riders, supporting multi‑year revenue visibility independent of commodity swings.
Negative Factors
Elevated leverage and large absolute debt
Despite some repair, the balance sheet shows substantial absolute debt and historically high debt/equity levels. Large leverage limits flexibility, raises interest sensitivity, and increases refinancing and rating risk across capital cycles, constraining durable ability to self‑fund growth without costly external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated, rate‑base earnings model
Eversource's core earnings derive from regulated delivery and transmission assets where returns and cost recovery are set by regulators. That creates durable, predictable cash flows linked to utility rate base growth and approved riders, supporting multi‑year revenue visibility independent of commodity swings.
Read all positive factors
Eversource Energy (ES) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.09B
Dividend Yield4.54%
Average Volume (3M)2.78M
Price to Earnings (P/E)14.8
Beta (1Y)0.25
Revenue Growth13.12%
EPS GrowthN/A
CountryUS
Employees10,000
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)1.12
Shares Outstanding375,496,600
10 Day Avg. Volume3,188,445
30 Day Avg. Volume2,783,108
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)1.54
Price to Sales (P/S)1.84
P/FCF Ratio-553.69
Enterprise Value/Market Cap2.16
Enterprise Value/Revenue4.15
Enterprise Value/Gross Profit8.67
Enterprise Value/Ebitda10.44
Forecast
1Y Price Target
$71.70Price Target Upside3.21% Upside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)4.81
Revenue Forecast (FY)$13.06B
Eversource Energy Business Overview & Revenue Model
Company Description
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 t...
How the Company Makes Money
Eversource primarily makes money through regulated utility operations, where revenues are largely set by state utility commissions and the Federal Energy Regulatory Commission (FERC) based on approved rates designed to recover operating costs and ...
Eversource Energy Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution, reliable earnings growth, meaningful capital deployment, and tangible balance sheet improvement, balanced against identifiable near-term challenges including segment-specific pressures, regulatory timing risks (Aquarion sale and storm cost prudency), settlement charges, and substantial multi-year financing needs. Management presented clear mitigation plans (securitization, alternative financings, targeted equity issuance) and reiterated long-term growth targets and regulatory engagement to derisk the plan.Positive Updates
Strong recurring non-GAAP and GAAP earnings
Full-year 2025 non-GAAP EPS of $4.76 vs $4.57 in 2024, an increase of ~4.2%. Full-year GAAP EPS of $4.05 vs $2.27 in 2024, a notable increase (~78%). Q4 EPS of $1.12 (GAAP and non-GAAP) vs GAAP $0.20 and non-GAAP $1.01 for Q4 2024, demonstrating quarter-over-quarter improvement.
Negative Updates
Transmission segment earnings decline
Electric transmission earnings decreased to $2.09 per share in 2025 from $2.30 in 2024, a decline of ~9.1%, partially offset by other segment gains.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong recurring non-GAAP and GAAP earnings
Full-year 2025 non-GAAP EPS of $4.76 vs $4.57 in 2024, an increase of ~4.2%. Full-year GAAP EPS of $4.05 vs $2.27 in 2024, a notable increase (~78%). Q4 EPS of $1.12 (GAAP and non-GAAP) vs GAAP $0.20 and non-GAAP $1.01 for Q4 2024, demonstrating quarter-over-quarter improvement.
Read all positive updates
Company Guidance
Eversource guided 2026 EPS of $4.80–$4.95 and reiterated five‑year non‑GAAP EPS growth of 5%–7% off 2025 non‑GAAP EPS of $4.76 (2025 GAAP EPS $4.05), targeting the upper half of that range (implying >~6% growth) by 2028 measured off 2027 results. The company updated its 2026–2030 capital plan to $26.5 billion (up $2.3 billion vs. prior plan and $1.5 billion for the 2026–29 overlap), excluding Aquarion which would add $1.3 billion; electric distribution is the largest incremental driver (+$696 million, now >$11 billion), gas distribution +$523 million (nearly $7 billion), transmission +$233 million (over $7 billion), technology & facilities $1.2 billion (+$75 million), and rate base is expected to grow 8.3% from 2024–2030. Financing needs total $34.5–$35.0 billion (infrastructure $27.8 billion plus dividends $6.7–$7.2 billion), with projected operating cash flows of $24.2–$24.7 billion (~70% funding), $8.5–$9.0 billion from incremental debt/other financing (equity‑like content $1.3–$2.5 billion), securitization proceeds up to $1.5 billion (~3% of inflows), and equity issuance of $800–$1,100 million (unchanged by Aquarion); Eversource reported >400 bps improvement in FFO‑to‑debt at Moody’s (300 bps at S&P). Key timing and other metrics noted: 2026 moderate near‑term headwinds (higher depreciation, property tax, interest, share dilution, tax rate), dividends paid $3.01 in 2025 (+5.2%), >$4.0 billion deployed in 2025 capital, AMI >100,000 MA meters installed, PURA Aquarion remand decision due March 25, Connecticut storm prudency decision expected July (enabling securitization cash likely by Q3 2027), and Revolution Wind first power in weeks with COD targeted H2 2026.Eversource Energy Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
54
Neutral
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.55B | 11.90B | 11.91B | 12.29B | 9.86B |
| Gross Profit | 4.08B | 3.70B | 4.85B | 5.41B | 4.75B |
| EBITDA | 5.39B | 4.13B | 1.40B | 4.19B | 3.49B |
| Net Income | 1.69B | 811.65M | -442.24M | 1.40B | 1.22B |
Balance Sheet | |||||
| Total Assets | 63.79B | 59.59B | 55.61B | 53.23B | 48.49B |
| Cash, Cash Equivalents and Short-Term Investments | 135.35M | 26.66M | 53.87M | 374.60M | 66.77M |
| Total Debt | 30.28B | 29.11B | 26.75B | 22.94B | 20.22B |
| Total Liabilities | 47.43B | 44.40B | 41.28B | 37.60B | 33.74B |
| Stockholders Equity | 16.20B | 15.04B | 14.17B | 15.47B | 14.60B |
Cash Flow | |||||
| Free Cash Flow | -45.10M | -2.32B | -2.69B | -1.04B | -1.21B |
| Operating Cash Flow | 4.11B | 2.16B | 1.65B | 2.40B | 1.96B |
| Investing Cash Flow | -4.31B | -4.54B | -4.87B | -4.13B | -3.45B |
| Financing Cash Flow | 311.53M | 2.34B | 2.87B | 2.03B | 1.44B |
Eversource Energy Technical Analysis
Positive
69.47
Price Trends
70.71
Negative
68.97
Positive
67.19
Positive
Market Momentum
-0.86
Positive
46.17
Neutral
75.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES, the sentiment is Positive. The current price of 69.47 is below the 20-day moving average (MA) of 70.57, below the 50-day MA of 70.71, and above the 200-day MA of 67.19, indicating a neutral trend. The MACD of -0.86 indicates Positive momentum. The RSI at 46.17 is Neutral, neither overbought nor oversold. The STOCH value of 75.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES.
Eversource Energy Risk Analysis
Eversource Energy disclosed 20 risk factors in its most recent earnings report. Eversource Energy reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Eversource Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $28.27B | 5.07 | 27.18% | 5.68% | 4.43% | 123.35% | |
67 Neutral | $30.87B | 18.55 | 11.48% | 2.86% | 22.71% | 22.86% | |
67 Neutral | $29.03B | 21.95 | 8.16% | 3.13% | 8.42% | 32.48% | |
66 Neutral | $24.08B | 19.63 | 12.33% | 3.10% | 10.96% | -0.77% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $29.65B | 25.33 | 8.04% | 3.94% | 7.64% | 48.61% | |
56 Neutral | $26.09B | 14.75 | 10.71% | 4.54% | 13.12% | ― |
* Utilities Sector Average
ES
Eversource Energy
69.47
17.62
33.99%
AEE
Ameren
111.68
20.10
21.95%
CMS
CMS Energy
78.58
10.45
15.34%
EIX
Edison International
73.46
23.31
46.47%
FE
FirstEnergy
51.31
14.50
39.39%
PPL
PPL
38.64
6.13
18.87%
Eversource Energy Corporate Events
Business Operations and StrategyFinancial DisclosuresLegal ProceedingsRegulatory Filings and Compliance
Eversource Challenges FERC Ruling on Transmission ROE
Negative
Apr 1, 2026
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...
Business Operations and StrategyPrivate Placements and Financing
Eversource Energy Issues $1.5 Billion Subordinated Notes
Positive
Feb 26, 2026
On February 26, 2026, Eversource Energy issued $750 million of Junior Subordinated Notes, Series A, due 2056, and $750 million of Junior Subordinated Notes, Series B, also due 2056, under an underwriting agreement with a syndicate led by major inv...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Eversource Energy Projects Strong Growth With 2026 Outlook
Positive
Feb 12, 2026
Eversource Energy reported sharply higher results for 2025 on February 12, 2026, with GAAP earnings rising to $1.69 billion, or $4.56 per share, from $811.7 million, or $2.27 per share, in 2024, while non-GAAP recurring earnings improved to $1.77 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.