Eos Energy stock falls after Fuzzy Panda issues short report
Investing.com - Mizuho raised its price target on Eversource Energy (NYSE:ES) to $81.00 from $72.00 on Monday, while maintaining an Outperform rating on the utility company’s stock. The stock currently trades at $74.67, near its 52-week high of $74.45, having delivered a robust 28.4% return over the past six months.
The price target increase reflects several positive developments for Eversource since summer, including greater clarity on the Revolution Wind project and the sale of the Aquarion water utility business. The company has maintained a strong dividend track record, having raised dividends for 26 consecutive years, with a current yield of 4.15%.
Mizuho highlighted that Eversource has been focused on improving its balance sheet through increased liquidity and strengthening credit metrics, which could help narrow the company’s P/E discount versus the current approximately 19%.
The appointment of new commissioners in Connecticut was also cited as a factor contributing to a more favorable regulatory environment for the utility provider.
Mizuho adjusted its earnings per share estimates for Eversource to $4.72 for 2025, $4.95 for 2026, and $5.21 for 2027.
In other recent news, Eversource Energy has announced a $285 million increase in its liability related to future payments to Global Infrastructure Partners, stemming from the sale of its South Fork Wind and Revolution Wind projects. The company anticipates a federal tax benefit of approximately $210 million from these sales, resulting in a net non-recurring after-tax charge of about $75 million. Mizuho has maintained an Outperform rating on Eversource Energy, raising its stock price target to $81, citing improvements in the company’s balance sheet and regulatory environment. Meanwhile, Jefferies has increased its price target for Eversource Energy to $60, despite maintaining an Underperform rating due to concerns regarding the Aquarion sale, which faces opposition from municipalities and stakeholders. UBS has reiterated a Buy rating and a $77 price target following a favorable legal development for the Revolution Wind project, as the U.S. District Court lifted a stop work order, allowing construction to resume. These developments reflect ongoing changes in Eversource Energy’s business landscape.
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