Eversource Energy is a public utility holding company engaged in the energy delivery business through its regulated electric, gas, and water utility subsidiaries, serving residential, commercial, and industrial customers in parts of Connecticut, Massachusetts, and New Hampshire . The company is involved in the development of clean energy projects, including offshore and land-based wind farms, solar farms, energy storage facilities, and bioenergy plants . Eversource has been active in strategic initiatives, such as selling its offshore wind investments, including its interest in the Sunrise Wind project, to Ørsted . Additionally, the company is considering selling its water business to reduce equity needs and improve regulatory diversity .
- Electric Utility Services - Provides electricity delivery services to residential, commercial, and industrial customers in Connecticut, Massachusetts, and New Hampshire.
- Gas Utility Services - Supplies natural gas to customers in the regions it serves, ensuring reliable and safe energy delivery.
- Clean Energy Development - Engages in the development of renewable energy projects, including offshore and land-based wind farms, solar farms, energy storage facilities, and bioenergy plants.
- Water Utility Services - Offers water delivery services, with potential plans to sell this segment to optimize financial and regulatory strategies.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Joseph R. Nolan, Jr. ExecutiveBoard | Chairman of the Board, President, and CEO | None provided | Joined ES in 2016; previously EVP-Customer and Corporate Relations; became CEO in 2021; focuses on strategy and leadership. | View Report → |
Gregory B. Butler Executive | EVP and General Counsel | None provided | General Counsel since 2001; EVP since 2016; oversees legal and regulatory matters. | |
James W. Hunt, III Executive | EVP-Corporate Relations and Sustainability | None provided | Joined ES in 2016; previously SVP-Regulatory Affairs and Chief Communications Officer; focuses on sustainability and corporate relations. | |
John M. Moreira Executive | EVP, CFO, and Treasurer | None provided | Joined ES in 2018; previously SVP-Financial and Regulatory and Treasurer; became CFO in 2022; oversees financial strategy and operations. | |
Susan Sgroi Executive | EVP-Human Resources and Information Technology | Director at Everett Bank; Board Member at St. Francis House | Joined ES in 2024; previously EVP and CHRO at Blue Cross and Blue Shield of Massachusetts; specializes in HR, IT, and organizational transformation. | |
Cotton M. Cleveland Board | Trustee | President of Mather Associates; Director of Ledyard National Bank | Trustee since 1992; leadership and organizational development expert; active in non-profit and corporate boards. | |
Daniel J. Nova Board | Trustee | General Partner at Highland Capital Partners; Director at Rent the Runway and ThredUp | Trustee since 2023; venture capital expert with over 25 years of experience; serves on public and private company boards. | |
David H. Long Board | Trustee | Chairman of Liberty Mutual Holding Company; Board Member at multiple organizations | Trustee since 2019; over 25 years of leadership experience; active in civic and non-profit organizations; expertise in finance and insurance. | |
Frederica M. Williams Board | Trustee | President and CEO of Whittier Street Health Center; Board Member at Dana Farber Cancer Institute and others | Trustee since unknown; over 25 years of experience in regulated industries; focuses on community health and financial management. | |
Gregory M. Jones Board | Trustee | VP of Community Health and Engagement at Hartford Healthcare; Chairman of The Legacy Foundation of Hartford, Inc. | Trustee since 2020; focuses on community health and engagement; serves on several non-profit boards. | |
John Y. Kim Board | Trustee | Founder of Brewer Lane Ventures; Director at Franklin Resources; Board Member at multiple startups | Trustee since 2018; extensive experience in venture capital and financial services; serves on public and private company boards. | |
Linda Dorcena Forry Board | Trustee | Principal of LDF Holdings, LLC; Co-publisher of Reporter Newspapers; Board Member at multiple organizations | Trustee since 2018; expertise in diversity, inclusion, and community relations; active in civic and non-profit organizations. | |
Loretta D. Keane Board | Trustee | CFO of Arcadia Solutions, LLC | Trustee since 2023; over 20 years of CFO experience in high-growth technology companies; CPA and active in financial leadership organizations. |
- Given the regulatory uncertainties in Connecticut, particularly around timely cost recovery for critical investments like the AMI program, how does Eversource plan to manage capital allocation in this jurisdiction, and are you considering further reductions in planned investments if regulatory conditions do not improve?
- With the approval of your electric sector modernization plan adding $600 million in distribution investments, can you clarify how you intend to fund this increased capital expenditure and what impact it may have on your balance sheet and financing requirements?
- Considering the sale of Aquarion is a key component of your financing plan and embedded in your FFO to debt targets and EPS growth guidance, what risks do you foresee if the sale does not close by the end of 2025 as planned, and how would this affect your financial metrics and growth trajectory?
- Given that the expected $500 million benefit from the South Fork tax equity investment is now anticipated to extend beyond 2026, how will this shift affect your cash flow projections and your ability to utilize other tax benefits to meet near-term financial targets?
- You have raised approximately $1 billion through your ATM program and issued over 15 million common shares to date; with ongoing needs to strengthen your balance sheet and improve your credit position, should investors expect further equity dilution, and how do you balance this with shareholder value considerations?
Research analysts who have asked questions during EVERSOURCE ENERGY earnings calls.
Andrew Weisel
Scotiabank
5 questions for ES
Carly Davenport
Goldman Sachs
5 questions for ES
Jeremy Tonet
JPMorgan Chase & Co.
5 questions for ES
Anthony Crowdell
Mizuho Financial Group
3 questions for ES
Durgesh Chopra
Evercore ISI
3 questions for ES
Paul Patterson
Glenrock Associates
3 questions for ES
Agnieszka Storozynski
BofA Securities
2 questions for ES
Angie Storozynski
Seaport Research Partners
2 questions for ES
Julien Dumoulin-Smith
Jefferies
2 questions for ES
Ross Fowler
Bank of America
2 questions for ES
Ryan Levine
Citigroup
2 questions for ES
Shahriar Pourreza
Guggenheim Partners
2 questions for ES
Steven Fleishman
Wolfe Research
2 questions for ES
Travis Miller
Morningstar
2 questions for ES
William Appicelli
UBS
2 questions for ES
James Kennedy
Marathon Microfinder
1 question for ES
Julian Dumoulin-Smith
Jefferies
1 question for ES
Nicholas Campanella
Barclays
1 question for ES
Sophie Karp
KeyBanc Capital Markets Inc.
1 question for ES
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Undisclosed Acquisition (by Eversource) | 2024 | This planned deal involves a Purchase Agreement whereby Eversource Energy will acquire seller interests in certain holding companies through a cash payment at closing, with the transaction scheduled no earlier than March 31, 2024 and the purchase price determined by an agreed model. |
The Torrington Water Company (TWC) | 2022 | Aquarion Company, a subsidiary of Eversource Energy, completed a stock-for-stock exchange to acquire TWC—valuing TWC stock at $92.81 per share and issuing 925,264 treasury shares (approximately $72 million), which expanded its regulated water services in Connecticut by adding about 10,100 customers and assets of $65 million. |
Recent press releases and 8-K filings for ES.
- Eversource posted Q2 GAAP and recurring EPS of $0.96, flat year-over-year, driven by higher transmission, distribution and gas earnings offset by increased parent interest expense.
- The company reaffirmed its 2025 EPS guidance of $4.67–4.82 and its long-term EPS growth target of 5–7% through 2029.
- Connecticut’s SB4 energy reform was signed into law, enabling securitization of 2018–2025 storm costs and regulatory enhancements; New Hampshire’s PSNH rate case granted a $100 M permanent increase at a 9.5% ROE, with Aquarion’s divestiture on track to close by year-end.
- Eversource upheld its five-year utility infrastructure capex plan of $24.2 B (10% increase), with $2.2 B executed through June and further $1.5–2 B investment opportunities identified.
- Eversource Energy has entered into an equity distribution agreement with several major managers, enabling the sale of its common shares with an aggregate offering price of up to $1,200,000,000, with a par value of $5.00 per share.
- The offering is supported by the company’s effective registration statement on Form S-3 and a corresponding prospectus supplement, providing a framework for the sale of shares during the term of the agreement as detailed on May 30, 2025.
- Q1 2025 earnings call reported EPS (GAAP) of $1.50 vs $1.49 in Q1 2024, showcasing stable earnings performance .
- Reaffirmed Q1 2025 recurring EPS guidance of $4.67 to $4.82 with a long-term EPS growth target of 5%–7% through 2029 .
- Announced a 5-year capital plan of $24.2 billion, a 10% increase from the previous plan, with major investments in transmission (nearly $7B) and distribution (over $10B) projects .
- Advanced strategic initiatives in decarbonization and infrastructure, including projects in Massachusetts and the acquisition of the Mystic site, supporting robust growth in transmission and distribution segments .
- Enhanced balance sheet measures through improved cash flows, debt reduction, and planned debt and equity issuances to strengthen long-term financial metrics .