Eversource's Constructive Regulatory Outlook, Investment Opportunities Drive Growth
We are reaffirming our $53 fair value estimate and no-moat and stable moat trend ratings for Eversource Energy after it reported earning $3.25 per share for the full year 2018, in line with our estimate and management's guidance range. Earnings were up from $3.11 per share in 2017.Management initiated 2019 earnings guidance range of $3.40-$3.50 and extended its 5%-7% annual earnings growth target through 2023. Both of these are in line with our forecasts.
Electric transmission remains the highe...
Eversource Energy is a public utility holding company. Through its subsidiaries, the company has four segments: electric distribution, which is engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts and New Hampshire; electric transmission, which owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England; natural gas distribution, which distributes natural gas to communities in Massachusetts and cities and towns in Connecticut; and water distribution, which provides water services in towns and cities in Connecticut, Massachusetts and New Hampshire.
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