Citi analyst Ryan Levine reiterated a Neutral rating and an $81.00 price target on Eversource Energy (NYSE: ES), according to a press release statement.

Levine cited several risks to the company's outlook, including potential shortfalls in earned return on equity across its utilities, unfavorable rate case outcomes in any of its operating jurisdictions, and a pending Federal Energy Regulatory Commission decision on return on equity.

The analyst also noted that a potential $880 million transmission refund stemming from a recent FERC ROE decision remains pending in court, which he described as creating equity overhang for the stock.

Additional risks identified include a slowdown in reliability-driven transmission and distribution spending and potential regulatory penalties related to the company's handling of major weather events.

Shares of Eversource Energy closed at $74.91 prior to the announcement.