Northeast Utilities Rating Reiterated by Zacks (NU)
Northeast Utilities (NYSE:NU)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Monday, StockRatingsNetwork reports. They currently have a $44.00 price target on the stock. Zacks‘ price objective points to a potential upside of 6.18% from the company’s current price.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on Northeast Utilities primarily due to its diversified asset base and solid projects pipeline. These positives will enable the company to improve its performance going forward. Further, we believe the positive impacts from the NSTAR-merger including increase in scale of operations and strong customer base will contribute significantly. However, stringent regulations and over-reliance on transmission and distribution businesses will continue to cast a shadow on the stock. In the previous quarter, Northeast Utilities’ earnings per share and revenues surpassed both the Zacks Consensus Estimate and the year-ago results on the heels of higher returns from the transmission investments, an increase in electricity and natural gas sales, and lower operations and maintenance expenses.”
NU has been the subject of a number of other recent research reports. Analysts at Argus upgraded shares of Northeast Utilities (NYSE:NU) from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $49.00 price target on the stock, up previously from $41.44. Separately, analysts at CIBC raised their price target on shares of Northeast Utilities (NYSE:NU) from $46.00 to $47.00 in a research note to investors on Wednesday, September 18th. They now have a “sector underperform” rating on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.50.
Shares of Northeast Utilities (NYSE:NU) traded down 0.87% on Monday, hitting $41.08. 318,663 shares of the company’s stock traded hands. Northeast Utilities has a 1-year low of $37.53 and a 1-year high of $45.66. The stock has a 50-day moving average of $41.30 and a 200-day moving average of $42.76. The company has a market cap of $12.930 billion and a price-to-earnings ratio of 16.80.
Northeast Utilities (NYSE:NU) last announced its 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.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.37 per share. This represents a $1.47 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, September 12th.
Northeast Utilities (NYSE:NU) is a public utility holding company.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.