NYSE:ESElectric Utilities
Eversource Energy (ES) Stock Finds Support In Debt Relief Despite Profit Drop
Eversource Energy stock inched up about 1% to US$72.70 after earnings, a muted move for what was effectively a sentiment stress test on its balance sheet. The headline was not the recurring earnings, which landed close to expectations. The story was the balance sheet. A US$1.7b cash inflow from the Aquarion sale and rating agencies keeping credit metrics above downgrade triggers gave investors just enough comfort to keep bidding the stock rather than punishing the non cash charges that hit...