Company Reports

The northeast US electric grid operator, ISO New England, selected in a competitive-bid process a large joint transmission project proposed by Eversource and Avangrid to alleviate anticipated grid constraints beyond 2030.

Eversource Energy reported $0.87 in earnings per share in the second quarter, excluding several charges related to the Aquarion Water sale and higher costs for the Revolution offshore wind project. Eversource is on track to meet our and management's full-year outlook.

Eversource Energy reported $1.73 in earnings per share for the first quarter, excluding a $0.12 loss related to a possible customer rate refund ruling. Adjusted EPS was up $0.23 year over year in the quarter, putting Eversource on track to meet our full-year forecast.

Electric utilities in New England, including Eversource, filed a federal lawsuit on April 14 challenging a Federal Energy Regulatory Commission ruling last month that would require a cumulative $1.5 billion customer rate refund.

Eversource Energy has returned to its roots as a mostly rate-regulated electric and gas distribution utility in the Northeast after exiting a multiyear effort to develop several large offshore wind projects.

Eversource Energy reported earnings per share of $4.76 for 2025, excluding the third-quarter $0.20 charge for offshore wind cost increases. Adjusted EPS was in line with our expectations and management's guidance.

A federal judge on Jan. 12 granted offshore wind farm Revolution Wind an injunction from what effectively was the Trump administration's attempt in December to shut down all US offshore wind projects.

Connecticut utilities regulators on Wednesday voted unanimously to reject Eversource's request to divest its Aquarion Water subsidiary.

Eversource Energy has returned to its roots as a mostly rate-regulated electric and gas distribution utility in the Northeast after exiting a multiyear effort to develop several large offshore wind projects.

Eversource reported earning $1.19 per share during the third quarter, excluding the previously announced $0.20 charge for offshore wind cost increases. Year-to-date earnings are on track to meet our expectations and management's guidance.

Eversource announced it is taking a $258 million pretax charge related to additional costs tied to the partially completed offshore Revolution Wind project, bringing its total estimated liability to $581 million, or slightly more than $1 per share after tax.

The chair of the Connecticut utilities regulatory commission, Marissa Gillett, announced on Sept. 19 that she would resign on Oct. 10. Separately, a federal district court in Washington, D.C., issued an injunction that will allow the offshore Revolution Wind project construction to resume.

On Friday, the US Bureau of Ocean Energy Management ordered the offshore Revolution Wind developers to stop work based on concerns in a recent project review. Eversource has economic obligations tied to the project.

Eversource reported earning $0.96 per share during the second quarter, mostly flat with the second quarter of 2024. Year-over-year earnings growth should accelerate in the second half of the year as parent-level expenses moderate.

Eversource Energy has returned to its roots as a mostly rate-regulated electric and gas distribution utility in the Northeast after exiting a multiyear effort to develop several large offshore wind projects and selling its water utility.

Eversource reported earning $1.50 per share during the first quarter, mostly flat with the first quarter of 2024. A likely pickup in earnings growth during the rest of the year puts Eversource on track to meet our full-year estimates and management's outlook.

Utilities have limited direct exposure to tariffs announced by the Donald Trump administration, but falling energy demand or regulatory pushback to utilities' investment plans could slow earnings growth if economic conditions deteriorate.

Although US utilities have continued to rally this year and are now 8% overvalued based on our fair value estimates, we still think there are a few utilities with attractive valuations. Our top sector picks are Eversource Energy, Evergy, and Duke Energy.

Eversource reported earning $4.57 per share in 2024, excluding a $2.30 impairment charge for its offshore wind sales and pending Aquarion Water sale. Earnings were up 5% from 2023, slightly better than our outlook and within management's $4.52-$4.60 earnings per share guidance range.

Eversource Energy has returned to its roots as a mostly rate-regulated electric and gas distribution utility in the Northeast after exiting a multiyear effort to develop several large offshore wind projects and selling its water utility.