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Eversource Energy ES

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Vineyard Wind Approval Boosts Probability of Approvals for Eversource's Offshore Wind Plans

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are raising our fair value estimate for Eversource Energy to $68 per share from $66 after increasing the probability that the company will gain timely approval for what we estimate could be more than $4 billion of offshore wind investments during the next five years. We are reaffirming our no-moat and stable moat trend ratings.

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Company Profile

Business Description

Eversource Energy is a diversified holding company with subsidiaries that provide regulated electric, gas, and water distribution service. With the addition of NStar's Massachusetts utilities in 2012, Aquarion in 2017, and Columbia Gas in 2020, the company's utilities now serve more than 4 million customers in the region. Eversource also plans to develop 2 gigawatts of offshore wind projects by 2025. The company exited most of its unregulated businesses in 2006.

Contact
300 Cadwell Drive
Springfield, MA, 1104
T +1 800 286-5000
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2020
Stock Type Classic Growth
Employees 9,299

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