[Filing Information](index=1&type=section&id=Filing%20Information) This section provides details on Eversource Energy's Form 8-K filing and its common share listing [Registrant Details](index=1&type=section&id=Registrant%20Details) Eversource Energy (ES) filed a Form 8-K on October 14, 2025, detailing current events. The company's common shares are listed on the New York Stock Exchange - Eversource Energy (ES) filed a **Form 8-K** on **October 14, 2025**[2](index=2&type=chunk) Securities Registered | Title of each class | Trading Symbol | Name of each exchange on which registered | | :--- | :--- | :--- | | Common Shares, $5.00 par value per share | ES | New York Stock Exchange | [Section 2 - Financial Information](index=2&type=section&id=Section%202%20-%20Financial%20Information) This section details Eversource Energy's Q3 2025 financial results and offshore wind liability update [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Eversource Energy issued a news release on October 14, 2025, providing an update on offshore wind liability, including unaudited financial information for the three months ended September 30, 2025. This information is attached as Exhibit 99.1 - Eversource Energy issued a news release on **October 14, 2025**, updating on offshore wind liability and unaudited **Q3 2025** financial information[5](index=5&type=chunk) - The news release is attached as Exhibit 99.1 and incorporated by reference, but the information is not deemed 'filed' with the SEC unless specified[5](index=5&type=chunk)[6](index=6&type=chunk) [Section 8 - Other Events](index=2&type=section&id=Section%208%20-%20Other%20Events) This section outlines post-closing adjustments and increased contingent liability for offshore wind projects [Item 8.01 Other Events](index=2&type=section&id=Item%208.01%20Other%20Events) This section details the post-closing adjustments and increased contingent liability related to the sale of Eversource's interests in the South Fork Wind and Revolution Wind projects to Global Infrastructure Partners (GIP). Revised cost projections for Revolution Wind led to an expected $285 million increase in liability and a net after-tax charge of $75 million in Q3 2025 - Eversource sold its interests in the South Fork Wind and Revolution Wind projects to affiliates of Global Infrastructure Partners (GIP) on **September 30, 2024**[7](index=7&type=chunk) Offshore Wind Contingent Liability Evolution | Date | Liability Amount | | :--- | :--- | | September 30, 2024 (initial) | $365 million | | June 30, 2025 | $296 million | | Q3 2025 (expected increase) | +$285 million | | Q3 2025 (expected net after-tax charge) | $75 million | | Q3 2025 (expected EPS impact) | $0.20 per share | - The **$285 million** increase in liability is due to revised construction cost projections for Revolution Wind, reflecting damage to the installation vessel, insurance costs, and a stop-work order from BOEM[9](index=9&type=chunk) - The expected **$285 million** increase in liability will result in a net after-tax non-recurring charge of approximately **$75 million**, or **$0.20 per share**, in **Q3 2025**, partially offset by a **$210 million** federal tax benefit[11](index=11&type=chunk) - Revolution Wind project completion is still expected in the **second half of 2026**[10](index=10&type=chunk) [Non-GAAP Measures and Forward-Looking Statements](index=3&type=section&id=Non-GAAP%20Measures%20and%20Forward-Looking%20Statements) This section discusses the use of non-GAAP financial measures and outlines key forward-looking statement risks [Non-GAAP Financial Measures Disclosure](index=3&type=section&id=Non-GAAP%20Financial%20Measures%20Disclosure) Eversource uses non-GAAP financial measures to evaluate and present earnings results, excluding non-recurring items such as losses on offshore wind investments, the Aquarion water business sale, land disposition, and certain transaction costs. Management believes these exclusions provide a more meaningful representation of ongoing operating performance - Eversource uses non-GAAP financial measures to evaluate and provide details of earnings results by business, excluding specific non-recurring items[12](index=12&type=chunk) - Excluded items include losses on offshore wind equity method investments, the pending sale of the Aquarion water distribution business, disposition of land for the Northern Pass Transmission project, and certain transaction/transition costs[12](index=12&type=chunk) - Management believes these non-GAAP measures offer a more meaningful representation of financial performance by excluding items not indicative of ongoing costs and performance[12](index=12&type=chunk) [Forward-Looking Statements and Risk Factors](index=4&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) The report contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially. Key risks include cyberattacks, ability to qualify for tax credits, variability in offshore wind project costs, capital market disruptions, economic conditions, regulatory actions, and extreme weather - The report includes forward-looking statements, which are subject to risks and uncertainties that may cause actual results to differ materially[13](index=13&type=chunk) - Key risk factors include cyberattacks, ability to qualify for investment tax credits, variability in offshore wind project costs (Revolution Wind and South Fork Wind), disruptions in capital markets, changes in economic conditions, and regulatory actions[13](index=13&type=chunk) - Eversource encourages readers to consult its SEC filings and website for detailed risk factor disclosures[14](index=14&type=chunk) [Section 9 - Financial Statements and Exhibits](index=5&type=section&id=Section%209%20-%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits filed with the Form 8-K, including the interactive data file [Item 9.01 Financial Statements and Exhibits](index=5&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits filed with the Form 8-K, specifically Exhibit 104, which is the Cover Page Interactive Data File embedded within the Inline XBRL document Exhibits Filed | Exhibit Number | Description | | :--- | :--- | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [Signature](index=6&type=section&id=Signature) This section confirms the official signing of the report by Eversource Energy's authorized officer [Registrant Signature](index=6&type=section&id=Registrant%20Signature) The report was duly signed on October 14, 2025, by Jay S. Buth, Vice President, Controller, and Chief Accounting Officer of Eversource Energy - The report was signed on **October 14, 2025**, by Jay S. Buth, Vice President, Controller and Chief Accounting Officer of Eversource Energy[19](index=19&type=chunk)[20](index=20&type=chunk)[21](index=21&type=chunk)

Core Insights - Eversource Energy is identified as a high-growth utility stock, with a recent increase in future liability for payments to Global Infrastructure Partners by $285 million due to the disposal of two renewable energy projects [1] - The company anticipates that tax advantages from the losses on these project sales will offset some of the increased liability, resulting in a net non-recurring after-tax charge of approximately $75 million [2] - Mizuho has become more bullish on Eversource, lowering its non-GAAP EPS guidance for 2025 to a range of $4.72 to $4.80, down from a previous range of $4.67 to $4.82 [3] Financial Outlook - Following the liability increase, Mizuho reiterated an Outperform rating with a price target of $72, later raising it to $81, citing the company's strong financial position and improved regulatory environment [4] - The firm noted that the renewed liability is minor and does not significantly impact the company's financing needs, indicating confidence in Eversource's financial health [4] Company Overview - Eversource Energy is a utility company based in Massachusetts, providing electricity, natural gas, and water services across Connecticut, Massachusetts, and New Hampshire, with operations in electric transmission, solar power generation, and regulated water utilities [5]

Core Insights - Ford's Home Power Management system allows the F-150 Lightning electric pickup truck to provide electricity to homes, offering a solution for power outages and reducing electricity costs for homeowners [3][4][7]. Group 1: Home Power Management System - The system enables the F-150 Lightning to act as a backup power source during outages, capable of powering a home for approximately three days [6]. - Homeowners can save around $40 monthly on their power bills by utilizing the truck's stored energy instead of drawing from the grid during peak usage times [3][7]. - Ford estimates that regular use of the system can lead to annual savings of about $500 on electric bills [7]. Group 2: Smart Charging and Energy Rewards - The system allows for smart charging, where the truck can be recharged overnight when electricity rates are lower, optimizing energy costs [9]. - Ford is collaborating with various utilities to implement the Ford Energy Rewards program, compensating users for deferring charging during peak demand periods [11][12]. - A pilot program with DTE Energy is currently underway, where participants can share a portion of their F-150 Lightning's battery capacity with the utility [13]. Group 3: Market Position and Competitors - The vehicle-to-home (V2H) technology is not exclusive to Ford, as it is also available in models from Nissan, Kia, Tesla, and General Motors [14]. - Ford's decision to focus on the F-150 Lightning for this technology is due to its larger battery and the introduction of the Ford Charge Station Pro, which supports bi-directional charging [15][16].

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgency to invest in AI technologies now [1][13] - The energy demands of AI technologies are highlighted as a critical concern, with data centers consuming energy equivalent to that of small cities, leading to potential crises in power supply [2][3] Investment Opportunity - A specific company is presented as a key player in the AI energy sector, owning critical energy infrastructure assets that are essential for supporting the anticipated surge in energy demand from AI data centers [3][7] - This company is characterized as a "toll booth" operator in the AI energy boom, benefiting from the increasing need for electricity as AI technologies expand [4][5] Market Position - The company is noted for its unique position in the market, being one of the few capable of executing large-scale engineering, procurement, and construction projects across various energy sectors, including nuclear energy [7][8] - It is described as debt-free and holding a significant cash reserve, which is nearly one-third of its market capitalization, providing a strong financial foundation [8][10] Growth Potential - The company also has a substantial equity stake in another AI-related venture, offering investors indirect exposure to multiple growth opportunities in the AI sector without the associated high premiums [9][10] - The stock is considered undervalued, trading at less than seven times earnings, which presents a compelling investment opportunity given its ties to the growing AI and energy markets [10][11] Industry Trends - The article discusses the broader trends of onshoring and increased U.S. LNG exports, driven by recent tariffs, which further position this company favorably within the energy landscape [6][14] - The influx of talent into the AI sector is expected to drive continuous innovation and advancements, reinforcing the importance of investing in AI-related companies [12]

Core Insights - During market turbulence, investors often seek dividend-yielding stocks, which typically have high free cash flows and offer substantial dividends [1] Group 1: Edison International (NYSE:EIX) - Dividend yield is 5.67% [7] - Barclays analyst Nicholas Campanella maintained an Overweight rating and raised the price target from $65 to $69 on October 21, 2025, with a 70% accuracy rate [7] - Jefferies analyst Julien Dumoulin-Smith downgraded the stock from Buy to Hold and cut the price target from $70 to $57 on October 2, 2025, with a 67% accuracy rate [7] - On September 22, Edison's board declared a quarterly common stock dividend of $0.8275 per share [7] Group 2: Portland General Electric Co (NYSE:POR) - Dividend yield is 4.67% [7] - Barclays analyst Nicholas Campanella maintained an Equal-Weight rating and raised the price target from $43 to $47 on October 21, 2025, with a 70% accuracy rate [7] - JP Morgan analyst Richard Sunderland maintained a Neutral rating and cut the price target from $46 to $45 on May 19, 2025, with a 66% accuracy rate [7] - Portland General Electric will host an analyst conference call and webcast on October 31 to review its third quarter financial results [7] Group 3: Eversource Energy (NYSE:ES) - Dividend yield is 4.11% [7] - B of A Securities analyst Ross Fowler upgraded the stock from Neutral to Buy and raised the price target from $73 to $85 on October 21, 2025, with a 68% accuracy rate [7] - Janney Montgomery analyst Michael Gaugler downgraded the stock from Buy to Neutral on October 13, 2025, with a 70% accuracy rate [7] - Eversource Energy will host an earnings conference call on November 5 to discuss its financial performance and business updates through the third quarter [7]

Core Insights - During market turbulence, investors often seek dividend-yielding stocks, which typically have high free cash flows and offer substantial dividends [1] Group 1: Edison International (NYSE:EIX) - Dividend Yield: 5.67% [7] - Barclays analyst Nicholas Campanella maintained an Overweight rating and raised the price target from $65 to $69 on Oct. 21, 2025, with an accuracy rate of 70% [7] - Jefferies analyst Julien Dumoulin-Smith downgraded the stock from Buy to Hold and cut the price target from $70 to $57 on Oct. 2, 2025, with an accuracy rate of 67% [7] - Recent news includes a quarterly common stock dividend declaration of $0.8275 per share on Sept. 22 [7] Group 2: Portland General Electric Co (NYSE:POR) - Dividend Yield: 4.67% [7] - Barclays analyst Nicholas Campanella maintained an Equal-Weight rating and raised the price target from $43 to $47 on Oct. 21, 2025, with an accuracy rate of 70% [7] - JP Morgan analyst Richard Sunderland maintained a Neutral rating and cut the price target from $46 to $45 on May 19, 2025, with an accuracy rate of 66% [7] - Recent news includes an upcoming analyst conference call on Oct. 31 to review third quarter financial results [7] Group 3: Eversource Energy (NYSE:ES) - Dividend Yield: 4.11% [7] - B of A Securities analyst Ross Fowler upgraded the stock from Neutral to Buy and raised the price target from $73 to $85 on Oct. 21, 2025, with an accuracy rate of 68% [7] - Janney Montgomery analyst Michael Gaugler downgraded the stock from Buy to Neutral on Oct. 13, 2025, with an accuracy rate of 70% [7] - Recent news includes an earnings conference call scheduled for Nov. 5 to discuss financial performance and updates through the third quarter [7]

Core Viewpoint - Eversource Energy is positioned for steadier growth due to an improving regulatory environment in Connecticut, leading to an upgrade from Bank of America to Buy with a price forecast increase to $85 from $73 [1][6]. Regulatory Environment - Connecticut is experiencing a positive regulatory reset following structural and leadership changes at the Public Utilities Regulatory Authority (PURA) [2]. - The implementation of Senate Bill 4, which expands PURA to five commissioners and allows for the securitization of storm costs, is seen as a significant turning point [3]. - The nomination of four new PURA commissioners by Governor Lamont, described as more balanced and technically experienced, indicates a shift towards stability in regulatory proceedings [4]. Near-Term Catalysts - Key near-term catalysts include the proposed decision on the Aquarion sale and the final order on Yankee Gas, with expectations that Eversource will re-market the segment if the sale is not approved [5]. - The clarity of the balance sheet is expected to unlock further rate base growth, with approximately $3 billion in deferred items being addressed [6]. Financial Projections - Bank of America has raised its earnings outlook for Eversource Energy, projecting 2026 earnings of $5.05 per share, an increase from $4.95, with 2027 and 2028 estimates also raised [6]. - The bank maintains a 5-7% EPS CAGR outlook through 2029, projecting gradual improvement in FFO-to-debt to 14.2% [7]. Valuation - The price forecast of $85 is based on a sum-of-the-parts (SOTP) valuation, applying 2027 average peer price-to-earnings multiples of 16.4x for the electric segment and 16.1x for natural gas, adjusted upward by 5% for expected earnings growth potential [8].

Upgrades - BofA upgraded Eversource (ES) to Buy from Neutral with a price target of $85, up from $73, citing an "improving regulatory tone" and a projected 6% EPS growth through 2029 [2] - Leerink upgraded Exelixis (EXEL) to Outperform from Market Perform with a price target of $48, up from $38, following the Phase 3 STELLAR-303 trial results, which established important levers for long-term investment despite a 12% stock decline [3] - Citi upgraded Nextracker (NXT) to Buy from Neutral with a price target of $114, up from $66, highlighting its dominant position in tracker sales and potential revenue contributions from acquired businesses by FY30 [4] - Citi upgraded Sunrun (RUN) to Buy from Neutral with a price target of $26, up from $11, noting benefits from rising electricity rates and increased leverage over suppliers due to market shifts [5] - Raymond James upgraded Capri Holdings (CPRI) to Outperform from Market Perform with a price target of $25, indicating a favorable turnaround position supported by improving demand and conservative guidance [6] Downgrades - JPMorgan downgraded Goldman Sachs (GS) to Neutral from Overweight with a price target of $750, up from $625, citing high current valuations compared to European investment banks [7] - BNP Paribas Exane downgraded Verizon (VZ) to Neutral from Outperform with a price target of $44, raising concerns about strategic direction following a recent CEO change [7] - BNP Paribas Exane downgraded NuScale Power (SMR) to Underperform from Neutral with a price target of $25, down from $41, due to concerns over cumulative shipments and financial commitments [7] - Citi downgraded NuScale to Sell from Neutral with a price target of $37.50, down from $46, highlighting potential sales by Fluor and stretched valuations [7] - TD Cowen downgraded Tempus AI (TEM) to Hold from Buy with a price target of $88, up from $72, viewing the stock as fairly valued after a significant rally [7] - Wells Fargo downgraded Cleveland-Cliffs (CLF) to Underweight from Equal Weight with an unchanged price target of $11, describing the recent stock rally as "excess exuberance" [7]

Group 1 - Top Wall Street analysts have revised their outlook on several prominent companies, indicating a shift in market sentiment [1] - The article suggests that investors consider buying CRWD stock, highlighting analysts' positive views on its potential [1]

Core Insights - Eversource Energy has a market capitalization of $26.8 billion and operates in the energy delivery sector across Connecticut, Massachusetts, and New Hampshire, providing electricity, natural gas, and water services [1] Financial Performance - Eversource Energy is expected to report an EPS of $1.06 for fiscal Q3 2025, reflecting a 6.2% decrease from $1.13 in the same quarter last year, although it has consistently met or exceeded Wall Street's estimates in the past four quarters [2] - For fiscal 2025, the projected EPS is $4.75, which is a 3.9% increase from $4.57 in fiscal 2024, with further growth anticipated to $5.02 in fiscal 2026, representing a year-over-year increase of 5.7% [3] Stock Performance - Eversource Energy's stock has increased by 10.5% over the past 52 weeks, which is lower than the S&P 500 Index's gain of 14.7% and the Utilities Select Sector SPDR Fund's increase of 15.3% during the same period [4] - Despite reporting a better-than-expected Q2 2025 EPS of $0.96, the stock experienced a slight decline the following day, attributed to increased losses at the parent and other companies, which rose to $66.5 million from $38.5 million a year earlier due to higher interest expenses related to offshore wind project sales [5] Analyst Ratings - The consensus rating for Eversource Energy's stock is "Moderate Buy," with 17 analysts providing coverage, including six "Strong Buys," eight "Holds," one "Moderate Sell," and two "Strong Sells." The stock is currently trading above the average analyst price target of $71.15 [6]