5 Utility Stocks with Highest Dividends

2. Eversource Energy (NYSE:ES)

Dividend Yield as of April 7: 4.53%

Eversource Energy (NYSE:ES) is an energy provider serving customers in Connecticut, Massachusetts, and New Hampshire.

On April 1, Wells Fargo trimmed its price target on Eversource Energy (NYSE:ES) from $78 to $74, while maintaining an ‘Overweight’ rating on the shares. The lowered target still represents an upside of over 6% from the current share price.

The move comes after the Federal Energy Regulatory Commission ordered a reduction in the return on equity for the New England transmission owners, cutting the rate from 10.57% to 9.57%. Moreover, the regulatory authority set a maximum incentive ROE of 12.09%. Eversource Energy (NYSE:ES) expects the order to reduce its after-tax earnings by approximately $70 million for 2026. The utility also scaled back its 2026 non‑GAAP earnings guidance to $4.57–$4.72 per share, while still targeting an annual EPS growth of 5-7% through 2030 from a $4.65 base. The company had earlier projected its 2026 EPS in the range of $4.80 to $4.95 per share in February.

Wells believes that the FERC ruling is a headline negative for Eversource Energy (NYSE:ES) and threatens its CAGR trajectory.