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Eversource Energy - Stock Quote ES

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Morningstar's Eversource Energy Stock Analysis

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Eversource Explores Exiting Offshore Wind; Regulated Utilities Keep Growing

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $71 fair value estimate for Eversource Energy after the company reported earning $1.30 per share in the first quarter of 2022 on an adjusted basis. The company also announced it is exploring a sale of its 50% interest in 1.8 gigawatts of offshore wind projects in the Northeast, the largest offshore wind portfolio of any U.S. utility. We are reaffirming our no-moat and stable moat trend ratings.

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Eversource Energy's Company Profile

Business Description

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

300 Cadwell Drive
Springfield, MA, 1104
T +1 800 286-5000
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2020
Stock Type Classic Growth
Employees 9,227

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