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HARTFORD - Eversource Energy (NYSE:ES) reaffirmed its financial outlook on Friday after Connecticut regulators rejected its proposed sale of Aquarion Water Company to the South Central Connecticut Regional Water Authority. The utility company’s stock, currently trading at $64.55, has taken a significant hit with a 13.3% decline over the past week, according to InvestingPro data.
The energy company maintained its 2025 full-year non-GAAP earnings guidance of $4.72 to $4.80 per share, along with its projected 5% to 7% compound annual earnings growth rate from a 2024 base of $4.57 per share. This guidance aligns closely with analyst expectations, as InvestingPro data shows a consensus EPS forecast of $4.68 for fiscal year 2025, with 8 analysts currently covering the stock.
Eversource Executive Vice President and CFO John Moreira said the company remains in a "strong financial position" despite the Connecticut Public Utilities Regulatory Authority’s (PURA) decision. The company had prepared for alternative outcomes by issuing common equity earlier this year and $600 million in parent company debt.
"We have ample tools in our toolbox to manage our capital structure and liquidity effectively," Moreira stated in the press release. "Our FFO to debt metrics have consistently improved and we expect to remain above the rating-agency downgrade thresholds through 2026 and beyond."
Following a review of PURA’s decision, Eversource is evaluating regulatory and legal remedies. The company also plans to submit an Aquarion rate case in early 2026, seeking approximately $60 to $70 million, with new rates expected before year-end.
Eversource described Aquarion as "a high-quality, well-managed utility with a strong reputation for operational excellence" that remains a valued part of its organization.
The company serves approximately 4.6 million electricity, natural gas, and water customers across Connecticut, Massachusetts, and New Hampshire.
In other recent news, Eversource Energy’s financial performance has drawn attention following its earnings report. The company reported a slight increase in its second-quarter 2025 earnings per share (EPS), reaching $0.96, compared to $0.95 in the same period the previous year. Additionally, Eversource reaffirmed its full-year EPS guidance, projecting a range of $4.67 to $4.82. In regulatory news, the Connecticut Public Utilities Regulatory Authority unanimously rejected Eversource’s proposed $1.6 billion sale of its Aquarion water utility, citing concerns over managerial responsibility and governance. This decision has led to a downgrade by Mizuho from Outperform to Neutral, with a reduced price target of $68.00. Scotiabank also adjusted its outlook, lowering the price target to $63.00, maintaining a Sector Underperform rating. Despite this, Scotiabank had previously raised its price target to $64.00 from $55.00 after Eversource’s third-quarter earnings exceeded expectations. These developments highlight ongoing regulatory challenges and financial adjustments for Eversource Energy.
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