Eversource Pushes Back Northern Pass Spending, but Still Confident in Strong Growth
We are reaffirming our $53 fair value estimate and no-moat and stable moat trend ratings for Eversource Energy after it reported earning $3.11 per share in 2017, up 5% from 2016. The 2017 results are in line with our expectations, and the growth rate is consistent with what we think Eversource can continue to achieve at a minimum during the next three to five years.We do plan to adjust our investment forecast and earnings trajectory for 2018 based on the recent regulatory setback for Eversource...
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