NU: Northeast Utilities Systems Instablogs

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Thursday, May 30, 11:17 AM Utilities are getting a bit of a reprieve after taking a beating over the past few days. Option implied volatility has been increasing as investors rotate out of high dividend yield positions in the wake of a rise in treasury yields: AEE +1.7%, D +0.3%, DTE +1.9%, EIX +0.6%, ETR +1.3%, EXC +0.7%, FE +0.9%, NEE +1.7%, PEG +0.8%, PPL +0.5%, SRE +1.3%, TE +0.5%, AEP +0.8%, DUK +0.6%, ED NU +1.6%, PCG +1.2%, SO +0.4%, XEL +1.3%. 5 Comments [Energy, On the Move, U.S. Economy]
Thursday, May 2, 6:24 AM Northeast Utilities (NU): Q1 EPS of $0.72 beats by $0.07. Revenue of $2B beats by $0.13B. (PR) 1 Comment [Earnings, Breaking News]
Tuesday, April 2, 7:05 PM Citi strategists tweak the criteria for their top dividend-paying stock picks, lowering the standard for dividend yield while adding a new filter for dividend momentum “to give more emphasis on dividend safety and growth." The full list: MO, AEP, T, AVB, BMY, ED, D, DD, DUK, INTC, KMB, KRFT, LLY, MCD, MRK, MSFT, NU, NOC, OXY, PFE, PM, RTN, SRE, SO, SYY, XEL. 5 Comments [Quick Ideas]
Tuesday, February 19, 5:25 PM Northeast Utilities (NU): Q4 EPS of $0.55 misses by $0.03. Revenue of $1.68B misses by $190M. (PR) Comment! [Earnings, Breaking News]
Friday, February 8, 5:11 PM With Nemo bearing down on the Northeast, it begs the question: Are power companies better prepared for this storm than they were for Sandy? Nearly 2K people in New Jersey an New York are still without power from the hurricane, and with Nemo expected to dump up to 30 inches of snow and near-hurricane gusts in some areas, it's a question worth asking. 5 Comments [Energy]
Friday, February 8, 5:09 AM Airlines have canceled at least 2,200 flights for today and another 500 for tomorrow ahead of a blizzard in the North-Eastern U.S. that's forecast to dump up to 2 1/2 feet of snow, with affected airlines including United Continental (UAL), JetBlue Airways (JBLU), Delta Air Lines (DAL) and AMR (AAMRQ.PK). Power utilities bracing for the storm include National Grid (NGG), PSE&G’s (PEG) and Connecticut Light & Power (NU). 1 Comment [Consumer, Top Stories, U.S. Economy]
Wednesday, February 6, 6:24 AM Northeast Utilities (NU) declares $0.3675/share quarterly dividend, 7.1% increase from prior dividend of $0.343. Forward yield 3.59%. For shareholders of record Mar. 01. Payable Mar. 28. Ex-div date Feb. 27. (PR) 1 Comment [Dividends]
Thursday, January 24, 12:45 PM Barclays calls Northeast Utilities (NU) its top regulated utility pick for 2013 for its “best-in-class management team poised to deliver top-decile (6-9%) earnings and dividend growth through a combination of rate base growth opportunities in transmission and natural gas infrastructure, coupled with strong cost management." The firm also likes NI, WEC, NGG, WR and DUK. Comment! [Energy, Quick Ideas]
Thursday, January 3, 8:12 AM Americans are using more electronic gadgets, but electricity use is barely growing, posing a challenge for utility companies. PEG, NU and others are pouring money into high-voltage transmission lines, while others are slashing spending. EXC is cutting investment in nuclear plant expansions by $1B and in renewable energy projects by $1.3B as it tries to avoid a credit downgrade. 9 Comments [Energy]
Wednesday, December 12, 2012, 6:25 PM BofA Merrill Lynch's 1,600 year-end target for the S&P in 2013 is one of the most optimistic on Wall Street. Its 10 favorite stocks for the new year: F, WMT, VLO, C, LLY, MMM, CSCO, MOS, CTL and NU. It's worth noting that BAML's list from last year has returned 18% YTD so far. 11 Comments [Quick Ideas]
Thursday, November 1, 2012, 6:45 PM Power outages have rendered 65%-75% of gas stations in New Jersey inoperable, and experts say the gasoline shortage in the NYC area may not be cleared up for at least a week. The problem is not gasoline supplies, but the ability to distribute it; for example, Motiva, the Shell-Saudi Aramco JV, declared force majeure on fuel deliveries at four area terminals after sustaining weather damage and power problems. 2 Comments [Energy, U.S. Economy]
Tuesday, October 30, 2012, 9:56 AM Electric utilities are slammed by Sandy, as an estimated 10M customers are without power, topping the 7M left powerless after Hurricane Irene. Reports from New Jersey power companies PSE&G, Jersey Central (FE) and Atlantic City Electric (POM) account for 2.3M; Con Ed (ED) reports 1.9M without power in NYC; add PECO (EXC) and Conn. Light & Power (NU) for another ~1M. Comment! [Energy]
Tuesday, July 3, 2012, 10:20 AM Long Island Power Authority is the most disliked company in the U.S., the latest ratings from the American Customer Satisfaction Index show, with Northeast Utilities (NU) #2. TV broadcasters and airlines dominate the top ten as Charter (CHTR) and Comcast (CMCSA) take the third and fourth places respectively, and United Airlines (UAL) the fifth. Facebook (FB) is 12th and BofA (BAC) 15th. 3 Comments [Consumer]
Wednesday, June 6, 2012, 3:20 PM Northeast Utilities (NU +1.4%) trades near its highs for the day after Deutsche Bank upped the shares to Buy on valuation earlier today, citing the positive synergies from its recent merger with NSTAR. The firm also raised its price target to $39 from $36.50. Comment! [Energy]
Thursday, April 5, 2012, 12:07 PM NStar (NST -0.3%) wins final approval for its planned $5B merger with Northeast Utilities (NU -0.2%), gaining the support of the Massachusetts Department of Utilities. The endorsement paves the way for creating of a New England energy giant that will serve 3.5M gas and electric customers. Comment! [Energy, M&A]
Wednesday, January 4, 2012, 3:34 PM The proposed $4.3B merger between Northeast Utilities (NU -1.7%) and Nstar (NST -3.7%) will be reviewed by utility regulators in Connecticut, reversing the state's decision last year not to review the transaction, the Hartford Courant reports. The preliminary decision throws a new barrier in the way of the deal that would create a $17.5B utility, just three months before the deal expires. Comment! [Energy, M&A, On the Move]

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