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Eversource Energy - ES STOCK NEWS

Welcome to our dedicated page for Eversource Energy news (Ticker: ES), a resource for investors and traders seeking the latest updates and insights on Eversource Energy stock.

Eversource Energy (NYSE:ES) is a distinguished Fortune 500 and S&P 500 energy company based in Connecticut, Massachusetts, and New Hampshire. As the operator of New England’s largest energy delivery system, Eversource Energy serves over 3.7 million electric and natural gas customers. The company is steadfast in its commitment to safety, reliability, environmental leadership, and expanding energy options.

Founded with a commitment to customer satisfaction and community service, Eversource Energy has grown through strategic acquisitions, including NStar in 2012, Aquarion in 2017, and Columbia Gas in 2020. This expansion has enabled the company to provide rate-regulated electric, gas, and water distribution services to more than 4 million customers in the Northeast U.S.

In recent developments, Eversource Energy is in the process of exiting its 50% partnership with European utility Ørsted to develop 2 gigawatts of offshore wind projects in the Northeast U.S. This move is part of the company's broader strategy to focus on its core regulated businesses. Eversource had previously exited most of its unregulated businesses in 2006.

At the heart of Eversource Energy’s success are its dedicated employees. The company prides itself on fostering a diverse, talented team that values teamwork, collaboration, and safety. This engaged workforce is essential to delivering reliable energy services and achieving the company’s goals.

Financially, Eversource Energy remains robust, with ongoing projects aimed at improving infrastructure and expanding renewable energy sources. The company’s dedication to environmental stewardship is evident through its initiatives to enhance energy efficiency and sustainability.

Recent news highlights the dynamic nature of Eversource’s operations:

  • Partnership exit with Ørsted for offshore wind projects.
  • Ongoing infrastructure improvements.
  • Commitment to environmental sustainability.
Rhea-AI Summary

Eversource Energy (NYSE: ES) has announced a webcast conference call with financial analysts on August 1, 2024, at 9 a.m. Eastern Time. The call will review the company's financial performance through the second quarter of 2024. This live audio presentation will be accessible from the Investors section of Eversource's website.

Eversource, recognized as a national leader in corporate citizenship, serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire. The company is known for its commitment to energy efficiency and clean energy initiatives, including a pioneering networked geothermal pilot project, solar, offshore wind, electric vehicles, and battery storage integration.

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Eversource Energy (NYSE: ES) has completed the sale of its 50% stake in the 924 MW Sunrise Wind project to Ørsted for $230 million, subject to spending adjustments. The payment structure involves 50% at closing and the rest upon achieving construction milestones. The sale was contingent upon the project's successful award under NYSERDA's fourth solicitation for Offshore Wind Renewable Energy Certificates, which was completed on May 31, 2024. Regulatory approvals were obtained from the Federal Energy Regulatory Commission and the New York State Public Service Commission in June 2024. Eversource has divested all ownership in Sunrise Wind and will no longer bear any financial obligations for the project. They will continue to be involved as a service provider for the onshore construction through a separate agreement.

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Eversource has received the Environmental Business Council of New England's (EBC) Inaugural Community Choice Award for their pioneering networked geothermal pilot project in Framingham, Massachusetts. This initiative, which connects multiple homes and buildings to a shared geothermal network, aims to reduce greenhouse gas emissions and provide an efficient, cost-effective, and environmentally friendly heating and cooling solution. The award was presented during the EBC APEX Awards Celebration on June 13, 2024, in Boston. Eversource’s recognition underscores its commitment to decarbonization, innovation, and collaboration. The company is a leader in energy efficiency and is recognized nationally for its corporate responsibility efforts. More information on the project can be found on Eversource’s website.

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Eversource Energy (NYSE: ES) has been recognized as one of America's Climate Leaders for 2024 by USA TODAY and Statista Inc. This marks the second consecutive year the company has received this distinction, highlighting its success in reducing greenhouse gas emissions intensity. Eversource ranked #4 in the Energy & Utilities category and #173 overall. The award acknowledges the company's dedication to sustainability and clean energy projects across New England. Eversource serves approximately 4.4 million customers in Connecticut, Massachusetts, and New Hampshire and is also noted for its efforts in energy efficiency and integration of clean energy resources.

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Eversource Energy reported earnings of $521.8 million, or $1.49 per share, for Q1 2024, compared to $491.2 million, or $1.41 per share, for Q1 2023. The company approved a dividend of $0.715 per share and reaffirmed its 2024 earnings projection. Eversource Energy's various segments showed improved results, with the electric transmission segment earning $176.7 million, the electric distribution segment earning $168.1 million, the natural gas distribution segment earning $190.6 million, and the water distribution segment earning $5.4 million in Q1 2024.

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Eversource Energy (ES) has finalized an agreement to sell its 50% stake in the Sunrise Wind project to Ørsted, while continuing to lead the onshore construction. The sale aims to bring new investment and job opportunities to New York, reducing carbon emissions and advancing clean energy. The transaction is subject to closing later this year.
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Eversource Energy will discuss its first-quarter results in a webcast with financial analysts on May 2, 2024. Senior management will review the company's financial performance for the quarter.
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New York State selects Ørsted and Eversource for the Sunrise Wind offshore wind farm, aiming to create jobs and aid in meeting climate goals. The 924-megawatt project is set to be operational in 2026, bringing economic benefits and clean power to New Yorkers.
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Eversource and Ørsted's Sunrise Wind project wins New York 4 solicitation, promising economic growth and job creation. Eversource to sell 50% stake to Ørsted, reducing risk exposure. Project set to be the largest US offshore wind farm by 2026.
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Eversource Energy reports a full-year 2023 loss of $(442.2) million, announces exploration of sale of water distribution business, and projects 2024 non-GAAP earnings of $4.50-$4.67 per share. The company plans to exit its offshore wind business and potentially sell its water distribution business.
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FAQ

What is Eversource Energy?

Eversource Energy is a Fortune 500 and S&P 500 energy company serving over 4 million customers in the Northeast U.S. with electric, gas, and water distribution services.

Where is Eversource Energy based?

Eversource Energy is based in Connecticut, Massachusetts, and New Hampshire.

What recent projects has Eversource Energy been involved in?

Eversource Energy is exiting its 50% partnership with Ørsted for offshore wind projects and is focused on improving infrastructure and expanding renewable energy sources.

How many customers does Eversource Energy serve?

Eversource Energy serves over 4 million customers in the Northeast U.S.

What industries does Eversource Energy operate in?

Eversource Energy operates in the electric, gas, and water distribution industries.

What acquisitions has Eversource Energy made?

Eversource Energy has acquired NStar (2012), Aquarion (2017), and Columbia Gas (2020).

What is Eversource Energy's commitment to environmental sustainability?

Eversource Energy is committed to environmental stewardship through initiatives focused on energy efficiency and sustainability.

How does Eversource Energy ensure safety and reliability?

Eversource Energy prioritizes safety and reliability through continuous infrastructure improvements and dedicated employee training.

Who are the key stakeholders in Eversource Energy’s operations?

The key stakeholders include its customers, communities, employees, and shareholders.

What makes Eversource Energy a leader in the energy sector?

Eversource Energy’s extensive service network, strategic acquisitions, focus on renewable energy, and commitment to customer satisfaction and safety make it a leader in the energy sector.

Eversource Energy

NYSE:ES

ES Rankings

ES Stock Data

22.17B
352.26M
0.27%
84.89%
1.62%
Electric Power Distribution
Utilities
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United States of America
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