Springfield, Massachusetts-based Eversource Energy (ES) is a public utility holding company that delivers energy. Valued at $23.1 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 underperformed the broader market over the past year. ES has gained 2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 8.6%. However, in 2025, ES stock is up 9.7%, surpassing SPX’s 3.8% decline 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 12.5% over the past year. However, ES’ returns on a YTD basis outshine the ETF’s 6% gains over the same time frame.

On May 1, ES shares closed down marginally after reporting its Q1 results. Its EPS of $1.50 matched Wall Street expectations. The company’s revenue stood at $4.1 billion, up 23.6% year over year. ES expects full-year EPS in the range of $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 20 analysts covering ES stock, the consensus is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings, eight “Holds,” one “Moderate Sell,” and two “Strong Sells.”

This configuration is slightly more bearish than a month ago, with one analyst suggesting a “Strong Sell.” 

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

The mean price target of $68.25 represents an 8.3% premium to ES’ current price levels. The Street-high price target of $85 suggests a notable upside potential of 34.9%.