Eversource's Transmission Investments Keep Driving Near-Term and Long-Term Growth
We are reaffirming our $47 per share fair value estimate and no moat and stable moat trend ratings for Eversource Energy after the company reported earning $0.83 per share in the third quarter. Management reaffirmed its $2.90-$3.05 EPS guidance and 5%-7% growth target, in line with our estimates.The transmission business continues to be the primary growth engine, as we expect. Transmission earnings in the quarter were up 13% and year-to-date transmission earnings are up 12% after adjusting for...
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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