Barclays reinstates Eversource Energy stock rating at Equalweight

Barclays has reinstated its coverage of Eversource Energy (NYSE:ES) with an Equalweight rating and a price target of $76.00. The firm notes that Eversource's shares trade at a 14.7% price-to-earnings discount compared to peers and expects this discount to persist due to below-average rate base and earnings per share growth, along with ongoing regulatory proceedings. Despite this, Eversource boasts a strong dividend track record, having raised its dividend for 27 consecutive years.