Rate Deliberations in the Next Few Months Could Solidify Eversource's Growth Outlook
We are reaffirming our $51 fair value estimate and no-moat and stable moat trend ratings for Eversource Energy after the company reported earning $0.82 per share in the third quarter, down from $0.83 in the third quarter of 2016. However, earnings were up 4% in the quarter and near 6% year to date after adjusting for abnormally cool summer weather in the quarter.Earnings are on track to meet our 2017 estimate, which is in line with management's $3.05-$3.20 guidance range. Management also reaf...
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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