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Eversource Energ - ES STOCK NEWS

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

Overview of Eversource Energy

Eversource Energy (NYSE: ES) is a diversified utility holding company that operates as New England's primary provider of regulated electric and natural gas distribution services. Serving millions of customers across Connecticut, Massachusetts, and New Hampshire, the company functions within a highly regulated framework while maintaining operational excellence in its energy delivery systems. Keywords such as 'regulated utility', 'energy distribution', and 'infrastructure management' underscore its robust operational foundation and deep industry expertise.

Core Business and Operations

Eversource Energy focuses on delivering reliable energy services to residential, commercial, and industrial customers. The company's core business involves:

  • Electric Distribution: Operating an extensive network responsible for delivering safe and reliable electrical power.
  • Natural Gas Delivery: Managing comprehensive gas distribution systems that ensure efficient and consistent service.
  • Renewable Initiatives: Engaging in the development of renewable energy projects, including offshore wind, to diversify its energy portfolio.

These operations are grounded in a rate-regulated model that emphasizes operational stability, adherence to safety standards, and utility reliability, positioning the company as a resilient player in the energy sector.

Strategic Acquisitions and Market Position

Throughout its history, Eversource Energy has strategically expanded its footprint through key acquisitions. The integration of previously independent utilities has allowed the company to consolidate its service areas, ultimately forming the largest energy delivery system in New England. This growth strategy, characterized by disciplined acquisitions and portfolio optimization, has cemented Eversource's position as a prominent entity in the competitive utility landscape.

Commitment to Safety and Community

The company places a significant emphasis on operational safety and reliability. With a strong commitment to the communities it serves, Eversource Energy upholds high standards in safety, environmental stewardship, and customer service. The company’s culture of teamwork and collaboration is evident in its ongoing investments in infrastructure and staff training, ensuring that its service remains dependable and secure.

Industry Terminology and Operational Excellence

Eversource Energy's operations are characterized by specialized industry terminology such as "rate-regulated service", "distribution network", and "renewable energy integration", which reflects the technical complexity of its business model. Its methodical approach to infrastructure management and cross-sector integration highlights the company’s authoritative role in the energy domain. Moreover, the focus on safety, environmental commitments, and service reliability reinforces the company’s status as a trusted and respected name in the sector.

Competitive Landscape and Differentiation

In the competitive utility industry, Eversource Energy distinguishes itself by combining a history of strategic acquisitions with a focus on delivering comprehensive energy solutions. The company's balanced portfolio, which integrates both traditional energy distribution and forward-thinking renewable projects, enables it to address various market challenges while ensuring long-standing operational superiority. This approach allows Eversource to maintain a competitive edge without compromising on its core values of safety, reliability, and community engagement.

Conclusion

Overall, Eversource Energy exemplifies operational excellence within the utility sector. Its extensive distribution network, strategic market expansions through acquisitions, and steadfast commitment to high safety and service standards form the bedrock of its business model. By melding traditional utility operations with innovative renewable solutions, Eversource Energy provides a comprehensive energy framework that underlines its enduring significance in the New England market.

Rhea-AI Summary
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 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 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 (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 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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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 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 (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 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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Eversource Energy (NYSE:ES) approves a quarterly dividend of $0.675 per share, payable on December 29, 2023, to shareholders of record as of December 18, 2023. The company operates New England’s largest energy delivery company, serving approximately 4.4 million electric, natural gas, and water customers in Connecticut, Massachusetts, and New Hampshire. Eversource Energy has approximately 349 million common shares outstanding.
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FAQ

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

The current stock price of Eversource Energ (ES) is $58.34 as of April 4, 2025.

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

The market cap of Eversource Energ (ES) is approximately 22.4B.

What are the core services provided by Eversource Energy?

Eversource Energy is engaged in the regulated delivery of electric and natural gas services. It operates extensive distribution networks to serve residential, commercial, and industrial customers.

How does Eversource Energy generate its revenue?

The company generates revenue through its rate-regulated model, focusing on electric and natural gas distribution. This model ensures stable income through regulated tariffs approved by state authorities.

What role do acquisitions play in Eversource Energy's business model?

Acquisitions have been a key component of Eversource Energy's expansion strategy, allowing it to consolidate service territories and enhance its operational infrastructure. This strategic growth has positioned it as a significant player in the New England energy market.

How does Eversource Energy incorporate renewable energy initiatives?

Eversource Energy has diversified its energy portfolio by investing in renewable projects such as offshore wind. These initiatives are part of its broader strategy to integrate renewable energy solutions while maintaining regulated traditional utility operations.

In what ways does the company ensure safety and reliability in its services?

Safety and reliability are at the core of Eversource Energy's operations. The company invests in rigorous safety protocols, frequent infrastructure maintenance, and comprehensive workforce training to ensure uninterrupted and secure energy delivery.

What distinguishes Eversource Energy from other utility companies?

Eversource Energy stands out through its strategic consolidation of assets and focus on both traditional and renewable energy services. Its integrated approach to energy distribution and commitment to safety and community welfare create a balanced and reliable utility framework.

What geographic areas does Eversource Energy serve?

The company primarily serves the New England region, including Connecticut, Massachusetts, and New Hampshire. Its extensive distribution networks make it a key utility provider in this concentrated market.

What strategic priorities underpin Eversource Energy's operations?

Strategic priorities for Eversource Energy include maintaining robust system reliability, enhancing infrastructure through strategic acquisitions, and integrating renewable energy initiatives. These priorities ensure comprehensive service delivery and a resilient operational framework.
Eversource Energ

NYSE:ES

ES Rankings

ES Stock Data

22.39B
366.36M
0.3%
85.6%
1.59%
Utilities - Regulated Electric
Electric Services
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United States
SPRINGFIELD