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Eversource Energy - ES STOCK NEWS

Welcome to our dedicated page for Eversource Energy news (Ticker: ES), a resource for investors and traders seeking the latest updates and insights on Eversource Energy stock.

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.
News

Ørsted and Eversource Win Bid for Updated Sunrise Wind Project in New York

Rhea-AI Summary
New York State selects Ørsted and Eversource for the Sunrise Wind offshore wind farm, aiming to create jobs and aid in meeting climate goals. The 924-megawatt project is set to be operational in 2026, bringing economic benefits and clean power to New Yorkers.
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Updated Bid for Sunrise Wind Wins New York’s Latest Offshore Wind Solicitation

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Eversource and Ørsted's Sunrise Wind project wins New York 4 solicitation, promising economic growth and job creation. Eversource to sell 50% stake to Ørsted, reducing risk exposure. Project set to be the largest US offshore wind farm by 2026.
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Eversource Energy Reports Full-Year Results

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Eversource Energy reports a full-year 2023 loss of $(442.2) million, announces exploration of sale of water distribution business, and projects 2024 non-GAAP earnings of $4.50-$4.67 per share. The company plans to exit its offshore wind business and potentially sell its water distribution business.
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Eversource Energy Announces Pathway to Fully Exit its Offshore Wind Investments Pursuant to Agreement with Global Infrastructure Partners to Sell Revolution Wind and South Fork Wind Projects

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Eversource Energy sells its ownership share in South Fork Wind and Revolution Wind to Global Infrastructure Partners for approximately $1.1 billion, retaining cost sharing obligations. The transaction includes adjustments based on project economics, with Revolution Wind expected to be operational in 2025.
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Eversource Recognized for the Fifth Consecutive Year on JUST Capital’s 2024 List

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Eversource (NYSE: ES) has been named among America’s Most JUST Companies, ranking #38 overall on the JUST 100 list and #3 in the utility sector. The company's consistent commitment to customers, communities, and the environment has been recognized, along with its efforts to address climate change and create an inclusive workplace. Eversource's dedication to worker benefits, work-life balance, customer privacy, and pollution minimization has contributed to its ranking. For more information on Eversource’s corporate responsibility, visit the provided links.
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Eversource Energy Declares Dividend, Schedules Webcast to Discuss Fourth Quarter Results

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Eversource Energy declares a quarterly dividend of $0.715 per share and schedules a conference call to review the company's financial performance through 2023.
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News

Ørsted and Eversource Propose Updated Sunrise Wind Project for New York

Rhea-AI Summary
Ørsted and Eversource have submitted a new proposal for Sunrise Wind in response to New York’s latest offshore wind solicitation, re-bidding an updated project that, if selected, would fulfill its promise to deliver substantial economic benefits across New York and play a critical role in advancing the state’s climate goals. Sunrise Wind would deliver up to 924 megawatts of clean energy to New York, and is expected to be completed in 2026, helping the state achieve its mandate of 70 percent renewable energy by 2030. Ørsted would become the sole owner of Sunrise Wind if it is awarded a contract in New York’s fourth offshore wind solicitation, and has made significant investments in the state’s offshore wind workforce and supply chain.
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Ørsted to acquire full ownership of Sunrise Wind subject to award in New York 4 offshore wind solicitation

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Ørsted has signed an agreement with Eversource to acquire Eversource’s 50 percent share of Sunrise Wind, a 924 MW offshore wind farm that would deliver power to New York. The acquisition is contingent on the successful award of Sunrise Wind in the ongoing New York 4 solicitation for offshore wind capacity, signing of an OREC contract with New York’s energy agency, NYSERDA, finalization of acquisition agreements, receipt of construction and operations plan (COP), and relevant regulatory approvals. If Sunrise Wind is not successful in the solicitation, the existing OREC contract will be cancelled, and Ørsted and Eversource’s 50/50 joint venture for Sunrise Wind will remain in place. If the project is provisionally awarded, a new contract will be negotiated with NYSERDA under the updated terms of the current solicitation. Sunrise Wind, if awarded, is expected to be completed in 2026, helping New York achieve its goal of reaching 70 percent renewable energy by 2030. The project has secured all major supplier and project labor agreements to commence construction shortly after award. Final federal permits are expected this summer. Ørsted's Group Executive Vice President and CEO of Region Americas, David Hardy, sees the acquisition as a value-accretive opportunity and the best path forward for the project. Joe Nolan, Chief Executive Officer and President of Eversource Energy, expressed pride in the work accomplished for Sunrise Wind and looks forward to continuing their leadership position in building onshore interconnection systems for offshore wind projects in the Northeast.
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Eversource Energy Announces Fourth Quarter 2023 Impairment

Rhea-AI Summary
Eversource Energy (NYSE: ES) is in advanced negotiations to divest its 50% ownership interest in three offshore wind projects. The company is in talks with a leading global private infrastructure investor. However, the projected construction costs and uncertainties related to the Sunrise Wind rebid process have negatively impacted the potential sales price. Eversource expects to record an after-tax other-than-temporary impairment charge in the range of $1.4 to $1.6 billion in the fourth quarter of 2023.
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Eversource Recognized as a “5 Year Champion” of Corporate Responsibility by Newsweek

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Eversource Energy (NYSE: ES) has been named as a '5 Year Champion' by Newsweek for being recognized among the nation’s most responsible companies every year since its list was introduced. Eversource ranked fifth in the nation among 59 companies in the Energy & Utilities category and 154th overall on the top-600 list among the leading 2,000 public companies by revenue with headquarters in the U.S. The company earned the highest environmental score in the utility industry and the highest overall ranking of any utility in the Northeast and the Eastern seaboard.
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FAQ

What is the current stock price of Eversource Energy (ES)?

The current stock price of Eversource Energy (ES) is $56.95 as of December 20, 2024.

What is the market cap of Eversource Energy (ES)?

The market cap of Eversource Energy (ES) is approximately 20.6B.

What is Eversource Energy?

Eversource Energy is a Fortune 500 and S&P 500 energy company serving over 4 million customers in the Northeast U.S. with electric, gas, and water distribution services.

Where is Eversource Energy based?

Eversource Energy is based in Connecticut, Massachusetts, and New Hampshire.

What recent projects has Eversource Energy been involved in?

Eversource Energy is exiting its 50% partnership with Ørsted for offshore wind projects and is focused on improving infrastructure and expanding renewable energy sources.

How many customers does Eversource Energy serve?

Eversource Energy serves over 4 million customers in the Northeast U.S.

What industries does Eversource Energy operate in?

Eversource Energy operates in the electric, gas, and water distribution industries.

What acquisitions has Eversource Energy made?

Eversource Energy has acquired NStar (2012), Aquarion (2017), and Columbia Gas (2020).

What is Eversource Energy's commitment to environmental sustainability?

Eversource Energy is committed to environmental stewardship through initiatives focused on energy efficiency and sustainability.

How does Eversource Energy ensure safety and reliability?

Eversource Energy prioritizes safety and reliability through continuous infrastructure improvements and dedicated employee training.

Who are the key stakeholders in Eversource Energy’s operations?

The key stakeholders include its customers, communities, employees, and shareholders.

What makes Eversource Energy a leader in the energy sector?

Eversource Energy’s extensive service network, strategic acquisitions, focus on renewable energy, and commitment to customer satisfaction and safety make it a leader in the energy sector.

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Eversource Energy

NYSE:ES

ES Rankings

#527 Ranked by Market Cap
#583 Ranked by Dividends

ES Stock Data

20.59B
365.38M
0.27%
84.38%
1.19%
Utilities - Regulated Electric
Electric Services
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United States of America
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