Springfield, Massachusetts-based Eversource Energy (ES) is a public utility holding company that delivers energy. Valued at $24 billion by market cap, the company provides electric service to customers in Connecticut, New Hampshire, and western Massachusetts. It also distributes natural gas throughout Connecticut.

Shares of this utility giant have struggled to keep up with the broader market over the past year. ES has gained marginally over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 21.9%. However, in 2025, ES stock is up 14.8%, surpassing the SPX’s 7.8% gains on a YTD basis. 

Narrowing the focus, ES’ underperformance is also apparent compared to the Utilities Select Sector SPDR Fund (XLU). The exchange-traded fund has gained about 18.1% over the past year. However, ES’ gains on a YTD basis outshine the ETF’s 14.4% returns over the same time frame.

ES’ underperformance is attributed to higher interest expenses, primarily due to the absence of capitalized interest following the sale of its offshore wind projects.

On Jul. 31, ES shares closed up marginally after reporting its Q2 results. Its EPS of $0.96 surpassed Wall Street's expectations of $0.95. The company’s revenue totaled $2.8 billion, representing a 12% year-over-year increase. ES expects full-year EPS to be $4.67 to $4.82.

For the current fiscal year, ending in December, analysts expect ES’ EPS to grow 3.9% to $4.75 on a diluted basis. The company’s earnings surprise history is impressive. It beat or matched the consensus estimate in each of the last four quarters.

Among the 18 analysts covering ES stock, the consensus is a “Moderate Buy.” That’s based on eight “Strong Buy” ratings, seven “Holds,” one “Moderate Sell,” and two “Strong Sells.”

The configuration has been reasonably stable over the past three months. 

On Aug. 5, Scotiabank analyst Andrew Weisel maintained a “Sell” rating on ES and set a price target of $55.

The mean price target of $70.13 represents a 6.4% premium to ES’ current price levels. The Street-high price target of $85 suggests an upside potential of 28.9%.