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Eversource Energy (NYSE:ES) is a distinguished Fortune 500 and S&P 500 energy company based in Connecticut, Massachusetts, and New Hampshire. As the operator of New England’s largest energy delivery system, Eversource Energy serves over 3.7 million electric and natural gas customers. The company is steadfast in its commitment to safety, reliability, environmental leadership, and expanding energy options.
Founded with a commitment to customer satisfaction and community service, Eversource Energy has grown through strategic acquisitions, including NStar in 2012, Aquarion in 2017, and Columbia Gas in 2020. This expansion has enabled the company to provide rate-regulated electric, gas, and water distribution services to more than 4 million customers in the Northeast U.S.
In recent developments, Eversource Energy is in the process of exiting its 50% partnership with European utility Ørsted to develop 2 gigawatts of offshore wind projects in the Northeast U.S. This move is part of the company's broader strategy to focus on its core regulated businesses. Eversource had previously exited most of its unregulated businesses in 2006.
At the heart of Eversource Energy’s success are its dedicated employees. The company prides itself on fostering a diverse, talented team that values teamwork, collaboration, and safety. This engaged workforce is essential to delivering reliable energy services and achieving the company’s goals.
Financially, Eversource Energy remains robust, with ongoing projects aimed at improving infrastructure and expanding renewable energy sources. The company’s dedication to environmental stewardship is evident through its initiatives to enhance energy efficiency and sustainability.
Recent news highlights the dynamic nature of Eversource’s operations:
- Partnership exit with Ørsted for offshore wind projects.
- Ongoing infrastructure improvements.
- Commitment to environmental sustainability.
Eversource Energy (NYSE: ES) reported full-year 2024 earnings of $811.7 million ($2.27 per share), compared to a 2023 loss of $442.2 million. Non-GAAP recurring earnings reached $1,634.0 million ($4.57 per share) for 2024, up from $1,517.7 million in 2023.
The company recorded significant losses in 2024, including $524.0 million related to offshore wind investment sales and $298.3 million from the pending sale of Aquarion Water Company. Eversource introduced a new five-year $24.2 billion investment plan for 2025-2029, representing a 10% increase over its previous plan.
The company projects 2025 earnings between $4.67-$4.82 per share and expects 5-7% long-term earnings growth through 2029. Eversource plans to raise $1.2 billion in equity over 2025-2029, excluding dividend reinvestment programs.
Eversource Energy (NYSE:ES) has been recognized on the JUST 100 list for the sixth consecutive year, ranking as the #1 utility and 7th overall in JUST Capital and CNBC's 2025 rankings of America's Most JUST Companies.
The recognition highlights Eversource's excellence in key areas including fair wages, worker well-being, career advancement, transparent communication, community strengthening, ethical leadership, and customer treatment. Chairman, President and CEO Joe Nolan emphasized the company's commitment to sustainability and community service as core aspects of their business practices.
The JUST 100 rankings are determined through analysis of the 1,000 largest public U.S. companies based on factors identified through public polling. The evaluation focuses on corporate practices that benefit employees, customers, and communities.
Eversource Energy (NYSE:ES) has declared a quarterly dividend of $0.7525 per share, payable on March 31, 2025, to shareholders of record as of March 4, 2025. The company, recently recognized as the #1 U.S. utility on TIME's List of World's Best Companies for 2024, serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire.
As the nation's leading energy efficiency provider, Eversource employs over 10,000 workers across three states. The company focuses on delivering reliable energy and water services while advancing clean energy initiatives, including a pioneering networked geothermal pilot project, solar, offshore wind, electric vehicles, and battery storage solutions.
Eversource (NYSE: ES) has initiated construction of the Greater Cambridge Energy Program (GCEP), featuring the largest underground substation in the U.S. The 35,000-square-foot facility will be built 105 feet underground beneath new public green space between Broadway and Binney Street.
The project includes construction of eight new 115 kV underground transmission lines spanning 8.3 miles through Cambridge, Somerville, and Boston, along with upgrades to five substations and 48 new distribution lines. The substation will enable 100% residential heating electrification and can displace 50% of commercial sector gas demand.
GCEP is expected to begin service in 2029 with complete implementation through 2031, supporting approximately 500 full-time jobs during construction. The program aims to address increased electric demand, enhance system resiliency, and support regional electrification and decarbonization goals.
Eversource Energy (NYSE:ES) has announced the sale of Aquarion Water Company to the Aquarion Water Authority (AWA) for an enterprise value of approximately $2.4 billion, comprising $1.6 billion in cash and $800 million in net debt. The transaction represents 1.7X rate base at December 2024.
The sale will allow Eversource to reduce parent company debt and reinvest in its core electric and natural gas businesses. The company expects to record a $300 million loss in Q4 2024, including $140 million in tax expense. Despite this, Eversource reaffirms its long-term EPS growth target of 5-7% through 2028.
Aquarion serves nearly 250,000 water and wastewater customers across Connecticut, Massachusetts, and New Hampshire, with over 360 employees serving more than 775,000 people. The transaction is expected to close in late 2025, subject to regulatory approvals.
Eversource Energy (NYSE: ES) has announced a webcast conference call scheduled for February 12, 2025, at 9 a.m. Eastern Time, where senior management will review the company's 2024 financial performance. The live audio presentation will be accessible from the Investors section of Eversource's website, with a Q&A session available for pre-registered participants.
Eversource serves 1.8 million customers across Massachusetts, including 1.47 million electric customers in 140 communities, 639,000 gas customers in 117 communities, and 11,500 water customers in five communities. The company employs over 10,000 people across three states and has been recognized as the #1 U.S. utility on TIME's List of World's Best Companies for 2024. As the nation's leading energy efficiency provider, Eversource is advancing clean energy initiatives including geothermal, solar, offshore wind, electric vehicles, and battery storage projects.
Eversource (NYSE: ES) has announced the energization of the Sudbury to Hudson Transmission Reliability Project, completing the Greater Boston and New Hampshire Solution suite of 50 transmission projects. The final project includes a new nine-mile, 115 kV transmission line between Sudbury and Hudson substations, with 7.6 miles underground within an inactive MBTA railroad corridor and 1.4 miles under Hudson streets.
The project, energized on December 6, enhances regional electric reliability and increases system capacity. As part of the development, Eversource has contributed to environmental conservation by removing invasive species, enhancing vernal pool habitats, and installing over 2,000 woody plants. The company will continue restoration efforts through early 2025, after which DCR will complete the rail trail.
The initiative serves multiple purposes, including strengthening grid resilience against extreme weather and creating a new multi-use rail trail for local communities. The project received recognition from the Massachusetts Central Rail Trail Coalition with a Golden Spike Award in late 2023.
Eversource (NYSE: ES) has acquired a 26-acre portion of the Mystic property from Constellation Energy, aiming to transform it into a multi-use energy interconnection hub. The strategic location will potentially support various renewable energy sources, including offshore wind, hydro, battery storage, and nuclear power.
The company plans to collaborate with Massachusetts and Everett officials over the coming year to develop plans that enhance electric reliability while advancing the state's electrification and decarbonization goals. The site, adjacent to a proposed soccer stadium in Everett, represents an opportunity to improve grid reliability and address future congestion on the regional transmission system.
The transaction will not immediately impact customer bills. Eversource currently serves 1.47 million electric customers, 639,000 gas customers, and 11,500 water customers throughout Massachusetts.
Eversource Energy (NYSE: ES) has been named one of America's Most Responsible Companies for 2025 by Newsweek and Statista Inc., marking its sixth consecutive year on the list. The recognition highlights the company's excellence in environmental, social, and corporate governance (ESG) initiatives. The ranking was determined through analysis of public data and a survey of 26,000 U.S. residents regarding corporate social responsibility perceptions.
As the #1 energy efficiency provider in the nation, Eversource serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire. The company employs over 10,000 people and is focused on delivering reliable energy and water services while advancing clean energy initiatives, including a first-in-the-nation networked geothermal pilot project, solar, offshore wind, electric vehicles, and battery storage.
The Board of Trustees of Eversource Energy (NYSE:ES) has approved a quarterly dividend of $0.715 per share, payable on December 31, 2024, to shareholders of record as of December 18, 2024.
Eversource, celebrated for its corporate citizenship, is a national leader and recognized among Newsweek's America's Most Responsible Companies for 2024. It serves approximately 4.4 million customers in Connecticut, Massachusetts, and New Hampshire, delivering electricity, natural gas, and water. The company, with around 10,000 employees, focuses on reliable energy and water delivery, superior customer service, and a clean energy future.
Notable initiatives include a networked geothermal pilot project, solar, offshore wind, electric vehicles, and battery storage integration.
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