Eversource Energy (ES)

NYSEUtilitiesRegulated ElectricSnapshot 2026-10-15

$66.85+1.30%

Close 2026-10-16 · 1-day change

Read the published Living FV report summary

Investment OutlookAs of Oct 15, 2026

What could strengthen or challenge Eversource Energy’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

0.0%

+10% or more+5%0%−5%−10% or less

4.92 → 4.92 EPS · FY ending Dec 31, 2027 · 9 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 8 to 9; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Living FV™

Living Fair Value by QuarterlyIQ

A valuation that evolves as the business changes.

A published Living FV snapshot is not available yet. The valuation workflow remains discoverable; a market target cannot supply the missing evidence.

View Living FV report and workflow

What the Thesis Depends On

4 key conditions need to be met for the investment thesis to play out.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Use $1.7 billion net proceeds from Aquarion sale to reduce debt	They sold Aquarion Water for $2.4 billion to cut debt.	Intact	Net proceeds used for debt fall below $1.7 billion	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 of last 3 quarters. The sale of Aquarion Water Company closed in 2026-Q2 for $2.4 billion cash, with net equity proceeds of approximately $1.7 billion used to reduce debt, strengthening the balance sheet. The transaction caused a non-cash after-tax charge of $111.4 million in 2026-Q2. Management has consistently emphasized this divestiture as a key strategic move to focus on core regulated operations, showing delivery on this commitment. Delivery assessment Oct 15, 2026
Execute $26.5 billion investment plan for 2026-2030	They sold Aquarion Water for $2.4 billion to cut debt.	Intact	Investment plan falls short of $26.5 billion by 2030	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Newly stated in 2025-Q4. Management announced a $26.5 billion five-year capital investment plan for 2026-2030, up $2.3 billion from prior plans, focusing on electric and natural gas distribution investments to support safe, reliable service and clean energy objectives. As this is a recent announcement, no multi-quarter delivery data is yet available. Delivery assessment Oct 15, 2026
Maintain 2026 EPS guidance between $4.57 and $4.72	Eversource aims for 2026 EPS between $4.57 and $4.72.	Intact	EPS falls below $4.57 in FY26	Diluted EPS: $0.14 per share FY2026-Q2; GAAP. Published target: >= $4.57 EPS. Target period is not explicitly aligned with this observation. Source published Aug 3, 20260.14 USD/share · source valueSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: c0355c35-5834-427f-908b-46a2094ab9fd. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Management reaffirmed 2026 non-GAAP recurring EPS guidance narrowed from $4.80-$4.95 per share in 2025-Q4 to $4.57-$4.72 per share in 2026-Q2, reflecting impacts of regulatory and divestiture events. The company maintains its long-term EPS growth target of 5-7% through 2030. The trajectory shows consistent reaffirmation with downward revision in near-term guidance due to external factors but steady long-term growth commitment. Delivery assessment Oct 15, 2026
Restore transmission ROE above FERC's 9.57% cut	They fight to raise transmission returns after a FERC cut.	Under Pressure	ROE remains at or below 9.57% beyond 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 of last 3 quarters. Management has emphasized pursuing regulatory actions to counter FERC's reduction of transmission ROE from 10.57% to 9.57%, which caused a $43.9 million after-tax charge in 2026-Q1. Transmission earnings declined from $224.3 million in 2026-Q1 to $183.7 million in 2026-Q2, reflecting this impact. Management continues to invest in transmission despite regulatory challenges, showing ongoing focus but limited near-term financial recovery. Delivery assessment Oct 15, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$4.92

$4.90 → $4.92 · observed estimates

FY2027 revenue$14.31B

Unavailable → $14.31B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$4.90	Unavailable	9 / 4
2026-07-25	$4.90	Unavailable	9 / 4
2026-07-26	$4.90	Unavailable	9 / 4
2026-07-27	$4.90	Unavailable	9 / 4
2026-07-28	$4.91	$14,236,196,161	8 / 6
2026-07-29	$4.91	$14,236,196,161	8 / 6
2026-07-30	$4.92	$14,260,361,666	8 / 5
2026-07-31	$4.92	$14,260,361,666	8 / 5
2026-08-01	$4.92	$14,260,361,666	8 / 5
2026-08-02	$4.91	$14,074,552,230	10 / 5
2026-08-03	$4.91	$14,074,552,230	10 / 5
2026-08-04	$4.91	$14,074,552,230	10 / 5
2026-08-05	$4.92	$14,260,157,358	8 / 5
2026-08-06	$4.91	$14,074,552,230	10 / 5
2026-08-07	$4.92	$14,260,157,358	8 / 5
2026-08-08	$4.91	$14,156,325,200	10 / 6
2026-08-09	$4.91	$14,156,325,200	10 / 6
2026-08-10	$4.91	$14,156,325,200	10 / 6
2026-08-11	$4.91	$14,156,325,200	11 / 6
2026-08-12	$4.91	$14,156,325,200	11 / 6
2026-08-13	$4.91	$14,156,325,200	11 / 6
2026-08-14	$4.92	$14,260,157,358	8 / 5
2026-08-15	$4.92	$14,260,157,358	8 / 5
2026-08-16	$4.92	$14,260,157,358	8 / 5
2026-08-17	$4.92	$14,260,157,358	8 / 5
2026-08-18	$4.92	$14,260,157,358	8 / 5
2026-08-19	$4.92	$14,260,157,358	8 / 5
2026-08-20	$4.92	$14,341,887,934	8 / 5
2026-08-21	$4.92	$14,356,316,498	8 / 6
2026-08-22	$4.92	$14,356,316,498	8 / 6
2026-08-23	$4.92	$14,356,316,498	8 / 6
2026-08-24	$4.92	$14,356,316,498	8 / 6
2026-08-25	$4.92	$14,356,316,498	8 / 6
2026-08-26	$4.92	$14,356,316,498	8 / 6
2026-08-27	$4.92	$14,356,316,498	8 / 6
2026-08-28	$4.92	$14,356,316,498	8 / 6
2026-08-29	$4.92	$14,306,644,278	8 / 6
2026-08-30	$4.92	$14,306,644,278	8 / 6
2026-08-31	$4.92	$14,306,644,278	9 / 6
2026-09-01	$4.92	$14,306,644,278	9 / 6
2026-09-02	$4.92	$14,306,644,278	9 / 6
2026-09-03	$4.92	$14,306,644,278	9 / 6
2026-09-04	$4.92	$14,306,644,278	9 / 6
2026-09-05	$4.92	$14,306,644,278	9 / 6
2026-09-06	$4.92	$14,306,644,278	8 / 6
2026-09-07	$4.92	$14,306,644,278	8 / 6
2026-09-08	$4.92	$14,306,644,278	8 / 6
2026-09-09	$4.92	$14,306,644,278	8 / 6
2026-09-10	$4.92	$14,306,644,278	8 / 6
2026-09-11	$4.92	$14,306,644,278	8 / 6
2026-09-12	$4.92	$14,306,644,278	8 / 6
2026-09-13	$4.92	$14,306,644,278	8 / 6
2026-09-14	$4.92	$14,306,644,278	8 / 6
2026-09-15	$4.92	$14,306,644,278	8 / 6
2026-09-16	$4.92	$14,306,644,278	8 / 6
2026-09-17	$4.92	$14,306,644,278	8 / 6
2026-09-18	$4.92	$14,306,644,278	8 / 6
2026-09-19	$4.92	$14,306,644,278	8 / 6
2026-09-20	$4.92	$14,306,644,278	8 / 6
2026-09-21	$4.92	$14,306,644,278	8 / 6
2026-09-22	$4.92	$14,306,644,278	8 / 6
2026-09-23	$4.92	$14,306,644,278	8 / 6
2026-09-24	$4.92	$14,306,644,278	8 / 6
2026-09-25	$4.92	$14,306,644,278	8 / 6
2026-09-26	$4.92	$14,306,644,278	8 / 6
2026-09-27	$4.92	$14,306,644,278	8 / 6
2026-09-28	$4.92	$14,306,644,278	8 / 6
2026-09-29	$4.92	$14,306,644,278	8 / 6
2026-09-30	$4.92	$14,306,644,278	8 / 6
2026-10-01	$4.92	$14,306,615,612	8 / 6
2026-10-02	$4.92	$14,306,615,612	8 / 6
2026-10-03	$4.92	$14,306,615,612	8 / 6
2026-10-04	$4.92	$14,306,615,612	8 / 6
2026-10-05	$4.92	$14,306,615,612	8 / 6
2026-10-06	$4.92	$14,306,615,612	8 / 6
2026-10-07	$4.92	$14,306,615,612	8 / 6
2026-10-08	$4.92	$14,306,615,612	8 / 6
2026-10-09	$4.92	$14,306,644,278	9 / 6
2026-10-10	$4.92	$14,306,644,278	9 / 6
2026-10-11	$4.92	$14,306,644,278	9 / 6
2026-10-12	$4.92	$14,306,644,278	9 / 6
2026-10-13	$4.92	$14,306,644,278	9 / 6
2026-10-14	$4.92	$14,306,644,278	9 / 6
2026-10-15	$4.92	$14,306,644,278	9 / 6

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	6	7	3
2026-06-01	6	9	3
2026-07-01	4	10	3
2026-08-01	4	10	3
2026-09-01	5	9	3
2026-10-01	5	8	3

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 5 Buy / Strong Buy · 8 Hold · 3 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 16–Oct 15 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 16, 2026–Oct 15, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Use $1.7 billion net proceeds from Aquarion sale to reduce debtDirect metric needs a verified mapping
Execute $26.5 billion investment plan for 2026-2030Direct metric needs a verified mapping
Maintain 2026 EPS guidance between $4.57 and $4.72Diluted EPS: $0.14 per share
Restore transmission ROE above FERC's 9.57% cutPublished status: Under Pressure

Next proof point

Nov 3, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

0.8%Typical daily move · historical

Downside history

-16.1%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Eversource Energy outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 10, 2026

What kind of bet this is

This investment represents a stable utility with a focus on long-term growth. The current thesis is intact, but recent earnings performance has raised some concerns about execution quality.

What's priced into Eversource Energy

The market appears to have priced in a neutral valuation, reflecting a slight expectation gap. ES is seen as cheap compared to its peers, but its fragile earnings quality suggests caution.

What the fundamentals likely do

Management has reaffirmed EPS guidance for 2026, indicating a commitment to long-term growth despite recent downward revisions. The near-term risk of missing earnings is low, but the company has a history of misses that could impact investor sentiment.

What Eversource Energy hinges on

The long-term thesis hinges on management's ability to maintain guidance and execute on their $26.5 billion investment plan. Additionally, favorable movements in interest rates and performance from sector peers could provide support.