Eversource Energy (NYSE:ES) announce that Craig Hallstrom has been named as Regional Electric Operations President

Eversource Energy (NYSE:ES) is pleased to announce that Craig Hallstrom has been named as Regional Electric Operations President for Connecticut and Massachusetts. In his new role, Hallstrom will have oversight of electric field and system operations for both states. He has a well-established reputation for delivering operational excellence with a focus on emergency response and employee safety during his 27-year career with the company. Most recently, he served as President of Electric Operations for eastern and western Massachusetts.

“Under Craig’s leadership, we will continue to integrate and standardize best practices and processes at our two largest operating companies, ensuring consistency of approach, superior customer service delivery, and efficiency,” said Werner Schweiger, EVP and COO of Eversource. “Our customers are experiencing reliability that is better than ever thanks to solid investments, aligned practices and sharing our strengths across all three states. That great performance will only continue with Craig’s leadership and expertise in this role.”

“During my time with the company, we’ve continually evolved with the times, utilizing the latest advances in technology to successfully meet the needs of our customers with improved reliability,” said Hallstrom. “I’m honored to have been chosen for this role and I look forward to continuing to streamline our processes and reinforcing our improved storm response to further deliver great results for our customers.”

Eversource Energy Equity Analysis

Eversource Energy (NYSE:ES) opened trading today as $56.42 and is trading in the range of 56.14-56.81 today. Eversource Energy’s current market cap stands at $17.90 Billion.

Compared to other peers in the Diversified Utilities sector, Eversource Energy hasn’t performed in terms of quarterly revenue growth year over year at -0.18 vs. the industry average of 0.06. Eversource Energy’s earnings per share is currently at 2.73, which surpasses the sector average of 0.08.

Eversource Energy is currently covered by 18 Wall Street analysts. The mean target price is $57.88 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 2.6 which is based on 3 Strong Buy, 1 Buy and 14 Buy ratings.

The most recent analyst actions consisted of Barclays downgrading the stock on February 8^th and Macquarie initiating coverage with a downgrade rating back in February.

The current quarter EPS consensus estimate is 0.66 with revenue estimates of 1.81B. Sales are expected to drop at a 3.30% rate. Eversource Energy reported actual earnings last quarter of 0.77 which fails to beat the 0.78 consensus estimate, a -1.30% surprise.

Corporate Profile

Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses. Its electric transmission segment owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England.

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