Springfield, Massachusetts-based Eversource Energy (ES) is a public utility holding company that delivers energy. Valued at $25.2 billion by market cap, the company provides electric service to customers in Connecticut, New Hampshire, and western Massachusetts. It also distributes natural gas throughout Connecticut.
Shares of this utility giant have struggled to keep up with the broader market over the past year. ES has gained 7.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 30.3%. In 2026, ES stock is up marginally, compared to the SPX’s 7.2% rise on a YTD basis.
Narrowing the focus, ES’ underperformance is also apparent compared to the State Street Utilities Select Sector SPDR ETF (XLU). The exchange-traded fund has gained about 11.8% over the past year. Moreover, the ETF’s 5.7% gains on a YTD basis outshine the stock’s marginal returns over the same time frame.
On May 6, ES shares closed down marginally after reporting its Q1 results. Its adjusted EPS of $1.73 surpassed Wall Street expectations of $1.59. The company’s revenue was $4.5 billion, beating Wall Street forecasts of $4.2 billion. ES expects full-year adjusted EPS in the range of $4.57 to $4.72.
For the current fiscal year, ending in December, analysts expect ES’ EPS to decline 2.3% to $4.65 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 16 analysts covering ES stock, the consensus is a “Hold.” That’s based on five “Strong Buy” ratings, eight “Holds,” one “Moderate Sell,” and two “Strong Sells.”
This configuration is less bullish than a month ago, with a “Moderate Buy” rating overall, consisting six analysts suggesting a “Strong Buy.”
On May 1, Bank of America Corporation (BAC) kept a “Buy” rating on ES and raised the price target to $75, implying a potential upside of 11% from current levels.
The mean price target of $72.50 represents a 7.3% premium to ES’ current price levels. The Street-high price target of $85 suggests an upside potential of 25.8%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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