Eversource Energy

ES: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$49.00	Rcb	Kbhdlnw

Eversource: Board Increases Dividend Despite Offshore Wind Uncertainty

Travis Miller

Feb 1, 2024

We are reaffirming our $72 fair value estimate for Eversource Energy after the company announced it will raise its dividend 6% to $2.86 per share annualized for 2024. This is in line with our outlook and the company's average dividend growth since 2017. We think the dividend increase shows that Eversource's core utilities are operating well despite the company's struggles to exit its offshore wind investments.

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