Rankings Utilities & power Eversource Energy
Eversource Energy
61
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Regulation in Connecticut−5
- Debt and equity issuance−5
- Margin and ROIC−4
Strengths
- Rating stabilised+2
How the score is built
From 100 to 61, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 69.55 USD
- Median analyst target
- 74.00 USD
- Upside to median
- +6.4%
- Analysts
- 16
- Target range
- 49.00 – 85.00 USD
- 52-week change
- −6%
- P/E (trailing)
- 18.0
- Forward P/E
- 14.9
- PEG
- 3.01
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−11 of −30
- −4Margin and ROICROIC 4.5% vs WACC 5.9%, and FCF was negative every year 2021-2025 (total about USD -7.3bn); TTM FCF only 0.3bn. The return on capital is below the cost of capital.
- −3Quality of growth2026 guidance of USD 4.57-4.72 in adjusted EPS (midpoint 4.65) is below 2025 (4.76), because FERC in March 2026 cut the allowed transmission ROE from 10.57% to 9.57%, and the Aquarion earnings disappear. Q2 adjusted EPS 0.87 vs 0.96.
- −4Capital allocationThe offshore wind adventure is still costly: a new provision of USD 164m (USD 0.43/share) in Q2 2026 for further payments to GIP for South Fork/Revolution Wind, on top of the billion-dollar write-downs in 2023–24. Aquarion was sold at a loss of USD 111m after regulatory tug-of-war.
Price
Today's multiples against the company's own history and its peers. · 1 finding−2 of −35
- −2Multiples vs own historyForward P/E 14.3 vs 12.2 (2024), 13.7 (2025) and 14.0 (2023), i.e. at the top of the last three years' level, even though EPS falls in 2026. EV/EBITDA 10.8 is, however, the lowest in five years (11.7-16.0), and P/E is below peers like Con Edison (17.9).
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−11 of −35
- −5Regulation in ConnecticutPURA rejected in July 2026 USD 500m (about 40%) of Eversource's request for recovery of storm costs 2018–2023, after first having blocked the Aquarion sale in 2025. A new rate case of about USD 451m a year meets opposition from the attorney general. The regulator has proved hostile.
- −5Debt and equity issuanceDebt 29.8bn USD, debt/EBITDA 6.0 and interest cover 2.4. The dividend (1.13bn) is paid with borrowed money and new shares: the share count rose 2.7% in a year, and 0.8-1.1bn USD of new equity is needed through 2030. S&P FFO/debt of 14.3% gives only about 230 bp of headroom to the downgrade threshold.
- −1
Plus
Only documented strengths. · 1 finding+2 of +15
- +2Rating stabilisedMoody's and S&P raised the outlook from negative to stable in July 2026 after the Aquarion sale (USD 1.7bn net, for debt reduction) was completed; no new equity issuance is expected for the rest of 2026, and Revolution Wind is about 97% complete.
Caveats
What the score does not capture, or where the data is weak.
Regulated utility: FCF is structurally low due to capex and is financed with debt and equity. Q3 2026 reports on 4 Nov (after the analysis date). The new rate case in Connecticut (CL&P, filed July 2026) is pending, and the PURA composition has not been examined. Data-centre demand in New England has not been examined.
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