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ES · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Eversource Energy (ES) stock moving?
Eversource reported Q3 2026 GAAP and non-GAAP EPS of $0.92, beating the $0.89 estimate, but revenue of $2.978B missed the $3.220B estimate, and EPS fell from $1.19 non-GAAP a year earlier. The company narrowed FY2026 adjusted EPS guidance to $4.62-$4.70, with a $4.66 midpoint slightly above the $4.63 estimate. A PURA decision on deferred Connecticut storm costs gives a clear path to securitization. Offsetting this, FERC cut the New England transmission ROE from 10.57% to 9.57%, which led to a $43.9M after-tax refund charge, and the nine-month results also carried a $164.0M offshore wind charge and a $111.4M charge tied to the Aquarion sale. Barclays reinstated coverage at Equal-Weight/Hold and raised its target from $69 to $76 on Nov 6, implying about 9% upside from the Nov 10 close of $69.62. The stock rose from $65.43 on Oct 22 to an intraday high of $73.05 on Nov 5, the day after earnings, then gave back most of the gain. Volume was elevated on the earnings sessions (4.6M on Nov 4, 4.4M on Nov 5) and again on Nov 10 (5.1M, the highest since Oct 30, against a roughly 3.4M average over the window). The fade from the gap-up suggests sellers absorbed the post-earnings rally, while the Barclays target and guidance midpoint give some support.
News behind the analysis
- Barclays Maintains Eversource Energy Hold Rating, Raises Target Price to $76Barclays analyst Nicholas Campanella kept a Hold rating on Eversource and raised the price target from $69 to $76.
- Barclays Reinstates Equal-Weight on Eversource Energy, Announces $76 Price TargetBarclays reinstated coverage of Eversource at Equal-Weight with a $76 price target.
- Barclays Reinstates Eversource Energy RatingBarclays has reinstated its coverage of Eversource Energy with an Equalweight rating.
- Eversource Energy Q3 2026 Earnings Call TranscriptFull transcript of the Q3 2026 earnings call, held on Thursday, Nov 5, where management discussed the quarter's results.
- Eversource Energy Reports Third Quarter 2026 Financial ResultsEversource reported GAAP and non-GAAP EPS of $0.92 and revenue of $2.98B for Q3 2026, and received a constructive PURA decision on deferred storm costs.
- Eversource Energy Narrows FY2026 Adj EPS Guidance from $4.57-$4.72 to $4.62-$4.70 vs $4.63 EstEversource narrowed its FY2026 adjusted EPS guidance to $4.62-$4.70, with a midpoint slightly above the $4.63 estimate.
- Eversource Energy Q3 EPS $0.92 Beats $0.89 Estimate, Sales $2.978B Miss $3.220B EstimateQ3 EPS beat consensus at $0.92 versus $0.89, while revenue of $2.978B fell short of the $3.220B estimate.
About Eversource Energy
Eversource Energy is a New England utility holding company that delivers electricity and natural gas to about 4 million customers in Connecticut, Massachusetts and New Hampshire. It is one of the largest power transmission owners in the Northeast. After selling its Aquarion water business in June 2026, it now describes itself as a pure-play regulated utility.
How it makes money
Most of its revenue comes from rates that state regulators and the federal regulator (FERC) approve. These rates let it recover its costs and earn a set return on the money it invests in its networks. Profit comes from three main segments: electric transmission, electric distribution and natural gas distribution. In the first half of 2026, transmission and electric distribution each earned roughly $0.4 billion. Gas distribution earned about $0.3 billion, mostly in winter. Much of the electricity and gas it delivers is bought for customers and passed through at cost. That means total revenue can swing without much effect on profit.
What usually moves ES
- State rate cases and regulatory decisions in CT, MA and NH
- FERC transmission return-on-equity rulings and refunds
- Interest rates and borrowing costs for a large capital plan
- Storm costs and how much of them can be recovered
- Leftover offshore wind liabilities (Revolution Wind)