Eversource Energy has delivered four consecutive earnings beats averaging roughly 3% above consensus and carries a strong balance sheet health signal, but the stock sits just below its near-term price target with only 1.1% of headroom, momentum is at the lower edge of a constructive reading, and free cash conversion at only 34% of net income constrains the quality of the dividend—limiting the case for new capital at current levels.
Thesis pillars
- Weak Cash Conversion Red Flag→Stable
- Consistent Earnings Beat Streak→Stable
- Leverage And Sentiment Headwinds↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 17, 2026
Eversource Energy (D/B/A) (ES) Stock Analysis
Utilities · Utilities - Regulated Electric
Sell if holding. Analyst target reached at $66.90 — A.R:R is negative (-1.2) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1).
Eversource Energy distributes electricity, natural gas, and water across Connecticut, Massachusetts, and New Hampshire through seven regulated utility subsidiaries. CL&P, NSTAR Electric, and PSNH collectively serve approximately 3.5 million electric retail customers; NSTAR Gas,... Read more
Sell if holding. Analyst target reached at $66.90 — A.R:R is negative (-1.2) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1). Chart setup: No clear chart pattern; technical signals are mixed. Score 4.7/10, moderate confidence.
Passes 6/9 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 6d<=7d. Suitability: moderate.
About Eversource Energy (D/B/A)
About Eversource Energy (D/B/A)
Eversource Energy served approximately 3.5 million electric retail customers across Connecticut, Massachusetts, and New Hampshire as of December 31, 2025 — CL&P with 1.32 million customers in 157 Connecticut towns, NSTAR Electric with 1.62 million in 159 Massachusetts towns, and PSNH with 549,000 in 206 New Hampshire towns — plus natural gas and water customers through five additional regulated subsidiaries. CL&P alone generated $4.16 billion in 2025 retail tariff revenues. The holding company is subject to FERC oversight under the Public Utility Holding Company Act of 2005, with distribution subsidiaries separately regulated by PURA in Connecticut, the Massachusetts Department of Public Utilities, and the NHPUC.
Eversource earns returns through cost-of-service rates covering distribution and transmission; energy supply is passed through at cost with no margin earned. None of the three electric utilities own generation (NSTAR Electric owns 70 MW of solar facilities whose output is sold into ISO-NE). Distribution returns are set in periodic rate cases: NSTAR Electric operates under a 2022 DPU-approved five-year performance-based regulation plan with annual base rate adjustments; PSNH received new rates effective August 1, 2025 under an NHPUC alternative regulatory framework with three formulaic revenue adjustments authorized through 2028; and CL&P's base distribution rates remain frozen under a 2021 settlement pending its next general distribution rate proceeding. Transmission ROEs are regulated by FERC. In 2024, Eversource sold its 50% interests in Revolution Wind, South Fork Wind, and Sunrise Wind to Global Infrastructure Partners, retaining a tax equity investment in South Fork Wind plus contingent purchase price adjustment obligations tied to construction completion.
Show full overview
Four complaints filed by outside parties with FERC against ISO-NE transmission owners, including Eversource's utilities, allege that allowed ROEs are unjust and unreasonable; adverse decisions could reduce transmission earnings and lower rate base growth. FERC's Longer-Term Transmission Planning competitive solicitation process may require Eversource to bid against non-incumbent developers for certain projects rather than relying on traditional cost-of-service recovery, introducing uncertainty about transmission investment returns. The company also monitors the evolving regulatory environment in Connecticut — including changes in the composition of PURA — which could affect outcomes in CL&P's next general distribution rate proceeding across electric, natural gas, and water businesses.
See also: Utilities · Utilities - Regulated Electric
From Eversource Energy (D/B/A)'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-10-29Recent Developments — Eversource Energy (D/B/A)
Latest news
- NEWS Eversource (ES) Q2 Earnings on the Horizon: Analysts' Insights on Key Performance Measures - Yahoo Finance — Yahoo Finance neutral
- NEWS BofA Maintains Buy Rating on Eversource Energy (ES) - Yahoo Finance — Yahoo Finance positive
- NEWS ES Bancshares, Inc. Announces Second Quarter 2026 Results; Ninth Consecutive Quarter of Growth in Our Book Value Per Sha — Yahoo Finance positive
- NEWS ETFs Investing in Eversource Energy Stocks - TradingView — TradingView neutral
- NEWS Bank of America Securities Remains a Buy on Eversource Energy (ES) - The Globe and Mail — The Globe and Mail positive
Generated 2026-10-29T11:08:51Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
1 floor-breaker
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $66.90 — A.R:R is negative (-1.2) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $64.36. Score 4.7/10, moderate confidence.
Analyst target $62.37 reached (−6.8% from $66.90); no take-profit level is published. Prior stop was $64.36. Stop-loss: $64.36.
Analyst target reached - limited upside remaining; V7 low-quality RISK_OFF penalty: -0.5 (Q=5.1); Leverage penalty (D/E 1.8): -1.0.
Eversource Energy (D/B/A) trades at a P/E of 17.3 (forward 13.6). TrendMatrix value score: 6.3/10. Verdict: Sell.
25 analysts cover ES with a consensus score of 3.5/5. Average price target: $72.
What does Eversource Energy (D/B/A) do?Eversource Energy distributes electricity, natural gas, and water across Connecticut, Massachusetts, and New Hampshire...
Eversource Energy distributes electricity, natural gas, and water across Connecticut, Massachusetts, and New Hampshire through seven regulated utility subsidiaries. CL&P, NSTAR Electric, and PSNH collectively serve approximately 3.5 million electric retail customers; NSTAR Gas, EGMA, and Yankee Gas serve gas customers; Aquarion provides water service in all three states. Cost-of-service rates are authorized by PURA (CT), the Massachusetts DPU, NHPUC, and FERC.