Northeast Utilities Price Target Increased to $47.00 by Analysts at CIBC (NU)
Equities research analysts at CIBC upped their target price on shares of Northeast Utilities (NYSE:NU) from $46.00 to $47.00 in a research note issued to investors on Wednesday, ARN reports. The firm currently has a “sector underperform” rating on the stock. CIBC’s price target would indicate a potential upside of 12.20% from the stock’s previous close.
Shares of Northeast Utilities (NYSE:NU) traded up 3.38% on Wednesday, hitting $41.89. The stock had a trading volume of 1,735,995 shares. Northeast Utilities has a 52 week low of $36.68 and a 52 week high of $45.66. The stock has a 50-day moving average of $41.95 and a 200-day moving average of $42.8. The company has a market cap of $13.185 billion and a P/E ratio of 16.42.
Northeast Utilities (NYSE:NU) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.03. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Northeast Utilities’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that Northeast Utilities will post $2.55 earnings per share for the current fiscal year.
A number of other firms have also recently commented on NU. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Northeast Utilities (NYSE:NU) in a research note to investors on Wednesday, July 31st. They now have a $43.00 price target on the stock. Separately, analysts at Williams Capital raised their price target on shares of Northeast Utilities (NYSE:NU) from $46.00 to $49.00 in a research note to investors on Wednesday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Brean Capital raised their price target on shares of Northeast Utilities (NYSE:NU) from $48.00 to $50.00 in a research note to investors on Tuesday, July 30th. They now have a “buy” rating on the stock.
One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.45.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.37 per share. This represents a $1.47 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Thursday, September 12th.
In other Northeast Utilities news, SVP Joseph R. Nolan, Jr. unloaded 2,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $40.43, for a total transaction of $80,860.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Northeast Utilities (NYSE:NU) is a public utility holding company.
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