olivLaw · US equity research
Eversource Energy ES
Electric Services · SIC 4911 · Vertical: Electric Services (SIC 4911)
Eversource Energy (NYSE: ES) is a Boston and Hartford utility holding company delivering electricity and natural gas across Connecticut, Massachusetts and New Hampshire. It earned $1.69 billion, or $4.56 per share, in 2025, and its 2026 non-GAAP guidance is $4.57 to $4.72 per share. The company sold Aquarion Water in Q2 2026 and plans $26.51 billion of capital expenditure over 2026-2030.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 03 Nov 2026, Eversource Energy (ES) stock was 69.03 USD (−0.75% on the day), with market capitalisation 26.0 bn USD, P/E 17.9 on diluted EPS of 3.87 USD over the last 12 months, dividend yield 4.46%, beta 0.27, 52-week range 63.28–76.21 USD. Latest reported quarter (Q2 2026): revenue of 2.9 bn USD (+2.3% YoY), net income of 55.6 m USD (−84.3% YoY), diluted EPS 0.14 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 60.1
- strong (55–70)
- Bollinger (20, 2)
- 64.14 – 69.47
- in the upper half of the band · %B 0.92 · band width 8.0%
- SMA 50 / 200
- 67.39 / 70.02
- mixed trend
- MACD (12, 26, 9)
- 0.54 / 0.11
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +7.0% | −2.0% | +9.0 pp | — |
| 3 months | −5.0% | −2.2% | −2.9 pp | — |
| 6 months | +0.2% | +4.3% | −4.1 pp | — |
| Year to date | +2.5% | +10.6% | −8.0 pp | — |
| 1 year | −7.2% | +10.5% | −17.6 pp | −1.1% |
| 3 years | +24.5% | +73.7% | −49.1 pp | +50.4% |
| 5 years | −17.6% | +61.7% | −79.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.1 bn | 3.0 bn | 4.1 bn | 2.8 bn | 3.2 bn | 3.4 bn | 4.5 bn | 2.9 bn |
| Operating income | 612.4 m | 347.8 m | 926.4 m | 663.0 m | 688.7 m | 710.5 m | 1.1 bn | 540.9 m |
| Depreciation & amortisation | 610.1 m | 588.3 m | 835.0 m | 494.7 m | 503.6 m | 571.1 m | 823.3 m | 379.6 m |
| Interest expense | 300.6 m | 288.7 m | 300.8 m | 293.2 m | 318.1 m | 331.2 m | 365.3 m | 355.5 m |
| Income tax | 76.5 m | 76.4 m | 165.2 m | 110.6 m | -197.0 m | 61.4 m | 203.3 m | 79.9 m |
| Net income | -116.2 m | 74.4 m | 552.7 m | 354.6 m | 369.4 m | 423.2 m | 608.7 m | 55.6 m |
| Diluted EPS | -0.33 | 0.20 ≈ | 1.50 | 0.96 | 0.99 | 1.13 ≈ | 1.61 | 0.14 |
| Operating cash flow | 555.6 m ≈ | 642.1 m | 1.0 bn | 1.1 bn ≈ | 1.1 bn ≈ | 916.1 m | 1.3 bn | 1.1 bn ≈ |
| Capex | 1.1 bn ≈ | 1.2 bn | 1.0 bn | 1.0 bn ≈ | 1.1 bn ≈ | 983.3 m | 1.0 bn | 1.0 bn ≈ |
| Dividends paid | 254.3 m ≈ | 256.3 m | 270.2 m | 270.6 m ≈ | 275.6 m ≈ | 276.6 m | 290.0 m | 290.3 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 8 percentile of its own 39-quarter history (min 14.7, median 21.0, max 30.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.4 bn | 8.5 bn | 8.9 bn | 9.9 bn | 12.3 bn | 11.9 bn | 11.9 bn | 13.5 bn |
| Revenue YoY | +9.0% | +0.9% | +4.4% | +10.8% | +24.6% | −3.1% | −0.1% | +13.8% |
| Net income | 1.0 bn | 916.6 m | 1.2 bn | 1.2 bn | 1.4 bn | -434.7 m | 819.2 m | 1.7 bn |
| Net income YoY | +4.5% | −11.9% | +32.3% | +1.3% | +15.0% | −130.8% | unavailable | +107.5% |
| Diluted EPS | 3.25 | 2.81 | 3.55 | 3.54 | 4.05 | -1.26 | 2.27 | 4.56 |
| Diluted EPS YoY | +4.5% | −13.5% | +26.3% | −0.3% | +14.4% | −131.1% | unavailable | +100.9% |
| net % | 12.3% | 10.7% | 13.6% | 12.5% | 11.5% | -3.6% | 6.9% | 12.5% |
| Free cash flow | -739.4 m | -901.9 m | -1.3 bn | -1.2 bn | -1.0 bn | -2.7 bn | -2.3 bn | -45.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 135.4 m USD
- Financial debt
- 28.3 bn USD
- Net debt
- 28.1 bn USD
- Equity
- 16.2 bn USD
- Total assets
- 63.8 bn USD
- Debt / equity
- 1.75x
- Current ratio
- 0.65x
- ROE
- 10.9%
- ROA
- 2.8%
- FCF margin
- -0.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 8.9 bn | 9.9 bn | 12.3 bn | 11.9 bn | 11.9 bn | 13.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Operating income | 2.0 bn | 2.0 bn | 2.2 bn | 2.4 bn | 2.4 bn | 3.0 bn | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 1.2 bn | 1.3 bn | 1.6 bn | 815.7 m | 1.8 bn | 2.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | 3.1 bn ≈ | 3.3 bn ≈ | 3.8 bn ≈ | 3.2 bn ≈ | 4.2 bn ≈ | 5.4 bn ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Interest expense | 538.5 m | 582.3 m | 678.3 m | 855.4 m | 1.1 bn | 1.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 346.2 m | 344.2 m | 453.6 m | 159.7 m | 424.7 m | 140.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 1.2 bn | 1.2 bn | 1.4 bn | -434.7 m | 819.2 m | 1.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 3.55 | 3.54 | 4.05 | -1.26 | 2.27 | 4.56 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 339.8 m | 344.6 m | 347.2 m | 349.8 m | 357.8 m | 371.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 2.27 | 2.41 | 2.55 | 2.70 | 2.86 | 3.01 | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 265.0 m | 66.8 m | 374.6 m | 53.9 m | 26.7 m | 135.4 m | SEC (XBRL)· 03 Aug 2026verified |
| Receivables | 1.2 bn | 1.2 bn | 1.5 bn | 1.4 bn | 1.7 bn | 1.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 3.1 bn | 3.3 bn | 4.2 bn | 4.2 bn | 5.1 bn | 5.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 4.4 bn | 4.5 bn | 4.5 bn | 4.5 bn | 3.6 bn | 4.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 46.1 bn | 48.5 bn | 53.2 bn | 55.6 bn | 59.6 bn | 63.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 1.4 bn | 1.7 bn | 2.1 bn | 1.9 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 1.1 bn | 1.2 bn | 1.3 bn | 824.8 m | 1.0 bn | 1.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | 15.1 bn | 17.0 bn | 19.7 bn | 23.6 bn | 25.7 bn | 26.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 4.9 bn | 5.8 bn | 6.8 bn | 6.3 bn | 6.7 bn | 7.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 14.1 bn † | 14.6 bn † | 15.5 bn † | 14.2 bn † | 15.0 bn † | 16.2 bn † | SEC (XBRL)· 17 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.7 bn | 2.0 bn | 2.4 bn | 1.6 bn | 2.2 bn | 4.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 2.9 bn | 3.2 bn | 3.4 bn | 4.3 bn | 4.5 bn | 4.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | -1.3 bn ≈ | -1.2 bn ≈ | -1.0 bn ≈ | -2.7 bn ≈ | -2.3 bn ≈ | -45.1 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -4.1 bn | -3.4 bn | -4.1 bn | -4.9 bn | -4.5 bn | -4.3 bn | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | 2.6 bn | 1.4 bn | 2.0 bn | 2.9 bn | 2.3 bn | 311.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 744.7 m | 805.4 m | 860.0 m | 919.0 m | 1.0 bn | 1.1 bn | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
3 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 57 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 26.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation83
- Returns79
- Quality31
- Balance sheet35
- Growth46
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 5.70 – 124.56 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)5.70 – 56.89 (Mid 15.81)WACC 7.0% · starting FCFF 1.4 bn USD · terminal value share of EV 81%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 25.1%
- Dividend discount (DDM)39.55 – 53.19 (Mid 45.37)
- Peers: EV/EBITDA62.70 – 124.56 (Mid 107.58)10 companies used · median multiple 12.8x · quartiles 9.6x – 14.0xAEP, CEG, CNP, D, EIX, ETR, NEE, NRG, SO, VST
- Peers: P/E83.58 – 99.33 (Mid 92.81)11 companies used · median multiple 24.0x · quartiles 21.6x – 25.7xAEP, CEG, CNP, D, ETR, FE, NEE, NRG, PPL, SO, VST
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 57/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 5.8% | 38 (vs peers) | 6% |
| Net margin · Quality | 10.4% | 23 (vs peers) | 6% |
| Revenue CAGR 3Y · Growth | 3.3% | 53 (on a fixed band) | 6% |
| EPS CAGR 3Y · Growth | 4.0% | 40 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 5.2x | 55 (vs peers) | 13% |
| Interest coverage · Balance sheet | 2.2x | 20 (on a fixed band) | 11% |
| Current ratio · Balance sheet | 0.8x | 12 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 17.9x | 92 (vs peers) | 13% |
| EV/EBITDA · Valuation | 10.1x | 73 (vs peers) | 11% |
| Dividend yield · Returns | 4.5% | 92 (vs peers) | 15% |
| Payout ratio (EPS) · Returns | 79.7% | 51 (on a fixed band) | 6% |
Score groups
- Balance sheet35/100 · 3/3 factors with a value
- Growth46/100 · 2/2 factors with a value
- Quality31/100 · 2/2 factors with a value
- Returns79/100 · 2/2 factors with a value
- Valuation83/100 · 2/2 factors with a value
Memo
EVERSOURCE ENERGY (ES). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 13.5 bn USD in 2025; YoY growth 13.8%; net margin 10.4%; ROE 9.1%; net debt/EBITDA 5.2x.
The estimated value range is 51.12–78.11 USD per share (median of 4 methods, agreement: low); assumptions are illustrative. Against the central value of 69.09 USD, the price of 69.03 USD leaves a potential of 0.1% (value / price − 1) and a margin of safety of 0.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 57/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 17.9x
- EV/EBITDA: 10.1x
- Dividend yield: 4.5%
What contradicts it
- Net margin: 10.4%
- Interest coverage: 2.2x
- Current ratio: 0.8x
- The valuation methods diverge
Versus the vertical median
Electric Services (SIC 4911) · same industry (4-digit SIC) · compared with 13 companies
Only companies with a capitalisation between 3.2 bn and 204.4 bn (within 8× of the company's); 39 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NEENextera Energy Inc | 175.9 bn | 21.4 | 15.6% | 31.5% | +9.8% | −2% / +44% |
| SOSouthern Co | 105.7 bn | 24.0 | 11.3% | 14.5% | +10.6% | +3% / +32% |
| CEGConstellation Energy Corporation | 93.3 bn | 25.7 | 15.3% | 11.1% | +8.3% | −28% / +118% |
| AEPAmerican Electric Power Company, Inc. | 70.7 bn | 19.0 | 12.8% | 16.9% | +10.9% | +5% / +63% |
| DDominion Energy, Inc | 58.7 bn | 19.8 | 10.5% | 16.9% | +14.2% | +6% / +47% |
| ETREntergy Corp | 49.9 bn | 27.7 | 11.1% | 13.6% | +9.0% | +12% / +115% |
| VSTVistra Operations Company LLC | 46.9 bn | 23.0 | 43.1% | 11.6% | +3.0% | −22% / +294% |
| CNPCenterpoint Energy Inc | 27.8 bn | 26.1 | 9.6% | 11.4% | +8.3% | +6% / +50% |
| FEFirstenergy Corp | 27.3 bn | 25.7 | 8.4% | 6.9% | +12.0% | −1% / +28% |
| PPLPPL Corp | 26.9 bn | 21.8 | 8.3% | 13.1% | +6.9% | −3% / +37% |
| ESEversource Energy | 26.0 bn | 17.9 | 9.1% | 10.4% | +13.8% | −7% / +25% |
| EIXEdison International | 22.9 bn | 6.3 | 20.8% | 19.6% | +9.8% | +1% / −11% |
| NRGNRG Energy, Inc | 20.2 bn | 24.9 | 23.8% | 2.6% | +9.2% | −43% / +101% |
| TLNTalen Energy Corporation | 15.5 bn | — | -16.7% | -6.4% | +22.0% | −9% / +523% |
1- and 3-year price returns: for ES from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 40.34 Total return -38% · Per year -38% | 71.36 Total return 8% · Per year 8% | 107.54 Total return 61% · Per year 61% |
| 3 years | 38.21 Total return -34% · Per year -13% | 76.15 Total return 25% · Per year 8% | 126.14 Total return 101% · Per year 26% |
| 5 years | 36.20 Total return -31% · Per year -7% | 81.26 Total return 42% · Per year 7% | 147.95 Total return 147% · Per year 20% |
- Exit P/E± 19.04
- Net margin± 13.33
- Annual revenue growth± 11.07
- Annual dilution± 1.12
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (03 Aug 2026).
In brief
Eversource Energy (NYSE: ES) is a Boston and Hartford utility holding company delivering electricity and natural gas across Connecticut, Massachusetts and New Hampshire 12. It earned $1.69 billion, or $4.56 per share, in 2025, and its 2026 non-GAAP guidance is $4.57 to $4.72 per share 12. The company sold Aquarion Water in Q2 2026 and plans $26.51 billion of capital expenditure over 2026-2030 12.
SWOT
Strengths
- The regulated asset base is large and growing, and rules allow recovery of prudent costs with a reasonable return 1.
- The company serves an extensive New England customer base with a stable delivery model 2.
- Selling Aquarion and the offshore wind assets has simplified the portfolio and strengthened the balance sheet 12.
Weaknesses
Opportunities
Risks
- Regulation and cost recoveryhigh
Regulators may disallow costs, reduce returns or delay rates, which could affect revenue and cash flow 1.
- Transmission ROEhigh
The FERC decision on transmission ROE and related refunds could reduce earnings from the transmission segment 2.
- Cybersecuritymedium
A major cyber event could interrupt service, lead to litigation and fines, and damage reputation 1.
- Offshore-related liabilitiesmedium
Obligations tied to the offshore wind sale to the buyer could create further financial charges 12.
- Environmental compliance costslow
Climate and environmental rules could raise operating and investment costs 1.
Investment thesis
What would need to be true (bull case)
- If planned grid investments are approved on time, the regulated asset base could keep growing and support the EPS growth target.
- The Aquarion and offshore sales could simplify the company and strengthen the balance sheet, reducing risks outside the core model.
- Winning transmission projects through ISO-NE processes could provide new long-term growth sources.
What would break the thesis
- FERC and state decisions could lower returns or delay cost recovery, which could limit earnings growth.
- Political pressure on bills could push regulators to refuse rate increases, affecting the investment plan.
- Contingent liabilities and interest costs could reduce earnings and financial flexibility, especially if financing conditions worsen.
What to watch
- Quarterly results and non-GAAP EPS reconciliationQ3 2026
- Update to 2026 EPS guidanceQ3 2026
- Rate decisions in Connecticut, Massachusetts and New Hampshire2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (03 Aug 2026).
The business
Eversource operates through regulated subsidiaries: CL&P in Connecticut, NSTAR Electric and PSNH for electricity, NSTAR Gas, EGMA and Yankee Gas for natural gas, and Aquarion for water 1. At 31 December 2025 CL&P served about 1.32 million customers and NSTAR Electric about 1.62 million 1. CL&P owns no generation and passes supply costs through without mark-up 1.
The company reports four segments: electric distribution, electric transmission, natural gas distribution and water distribution 1. Its offshore wind assets were sold in 2024, leaving only a noncontrolling tax equity stake in South Fork Wind, while a contingent liability tied to that sale continues to affect results 12. After the Aquarion sale, the company describes itself as a pure-play regulated electric and gas delivery business 2.
Rates are set by state and federal regulators, which generally allow recovery of prudently incurred costs plus a reasonable return 1. Several rate decisions in 2025 were contested or appealed, including in New Hampshire and Connecticut 1.
Market context
Eversource operates in New England, where energy costs and public policy charges have pushed customer bills higher, creating regulatory and affordability pressure 1. Transmission development in the region is opening to competitive solicitations, which may change access to projects 1.
Rising energy demand, grid investment and environmental rules shape demand for the company's services 1. Long-term growth depends on its EPS guidance, which targets 5 to 7 percent through 2030 2.
Trends
- Transmission ROE resetheadwind
The March 2026 FERC decision cut the New England transmission ROE, with estimated refunds that weighed on the first half 2. If the lower return persists, it could limit growth in the transmission rate base.
- Grid investmenttailwind
The planned 2026-2030 capital program is large and supports growth in the regulated asset base 1. If the spending is approved on time, it could support earnings growth.
- Bill affordabilityheadwind
High bills and political pressure could limit cost recovery or delay rate increases 1. The effect depends on decisions by regulators.
- Non-core asset exitsmixed
The Aquarion sale and exit from offshore wind assets simplify the portfolio toward electric and gas delivery 2. The business becomes more focused, though it gives up water revenue.
Competitive position
Eversource competes for transmission projects with non-incumbent developers through ISO-NE competitive solicitations, rather than relying only on cost-of-service recovery 12. These processes can reduce the ROE earned or impose cost caps.
In electricity supply, customers can choose competitive suppliers while the company remains the distribution operator 1. Supply competition therefore does not directly affect distribution revenue 1.
- Independent transmission developers
Non-incumbent developers that could win projects through ISO-NE competitive processes, as an alternative to the cost-of-service model 1.
- Competitive electricity suppliers
Suppliers competing for customers who choose not to stay on standard rates, while the company keeps the distribution role 1.
- Other New England utilities
Regional utilities competing for transmission projects and for favourable regulatory outcomes 1.
- Offshore wind project investors
Parties that acquired or develop offshore wind assets, such as those sold by the company in 2024 to GIP 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Is Eversource Energy Stock Underperforming the Dow?Yahoo Finance — News · 17 Sept 2026 · EN
- Eversource Energy Offers Stable Fundamentals, Growing YieldYahoo Finance — News · 10 Sept 2026 · EN
The latest news item in our archive is from 17 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report04 Nov 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report03 Aug 2026
- Current report30 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report01 Jul 2026Results of operations · Other events · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report06 May 2026Results of operations · Shareholder vote · Regulation FD disclosure · Financial statements and exhibits
- Current report31 Mar 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Proxy statement27 Mar 2026
- Current report26 Feb 2026Creation of a direct financial obligation · Financial statements and exhibits
- Annual report17 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Eversource Energy · 17 Feb 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Eversource Energy · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.