Buying opportunity in Northeast Utilities, Wellington says


Wellington sees a buying opportunity in Northeast Utilities (NU +1.2%) given the company's growth potential and recent weakness in the shares.

The firm thinks NU's planned $1.4B Northern Pass transmission line in New Hampshire will prevail because ISO New England needs the hydro power the line will carry.

The firm believes recent yields point to an ultimate base return on equity in the
10.5%-10.7% range when a final decision is rendered, possibly in Q2 2014.

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