We are reaffirming our $74 per share fair value estimate for Eversource after the company announced it earned $0.97 per share on an adjusted basis during the third quarter of 2023, down from $1.01 during the third quarter of 2022. We are reaffirming our no-moat rating for Eversource.
Eversource raised its dividend to $2.70 per share annualized for 2023, maintaining a string of 6% dividend increases that we think can continue for several more years.
High energy prices in the Northeast can lead regulators to allow lower infrastructure returns, which would depress Eversource's earnings growth.
|
Metric
|
ES
|
AGR
|
PEG
|
|---|---|---|---|
Price/Earnings (Normalized) | 13.98 | 20.75 | 17.68 |
Price/Book Value | 1.33 | 0.62 | 2.08 |
Price/Sales | 1.70 | 1.48 | 2.69 |
Price/Cash Flow | 9.99 | 7.96 | 12.48 |
|
Metric
|
ES
|
AGR
|
PEG
|
|---|---|---|---|
Quick Ratio | 0.24 | 0.38 | 0.32 |
Current Ratio | 0.56 | 0.78 | 0.63 |
Interest Coverage | 2.75 | 2.09 | 5.98 |
|
Metric
|
ES
|
AGR
|
PEG
|
|---|---|---|---|
Return on Assets (Normalized) | 4.83% | 1.42% | 2.75% |
Return on Equity (Normalized) | 16.75% | 3.02% | 9.37% |
Return on Invested Capital (Normalized) | 7.98% | 2.91% | 5.26% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Economic Moat
|
Market Cap
|
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