Northeast Utilities (NYSE:NU)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday, Stock Ratings News reports. They currently have a $45.00 target price on the stock. Zacks‘ target price indicates a potential upside of 4.92% from the stock’s previous close.
Zacks‘ analyst wrote, “Northeast Utilities’ top and bottom line in third quarter missed the Zacks Consensus Estimate. On a year-over-year basis, the company’s earnings declined due to an increase in operating expenses and a increase in shares outstanding. Quarterly revenues increased over the year-ago results driven by higher retail natural gas distribution volumes. We expect that the company’s diversified asset base, several existing projects and strategic inorganic growth strategy to help to boost forthcoming performance. Further, we believe the positive impacts from the NSTAR-merger including rise in scale of operations and strong customer base will contribute significantly. However, stringent regulations, volatility in fuel prices and over-dependence on transmission and distribution businesses will continue to cast a shadow on the stock. Thus, we have maintained our Neutral recommendation on the stock.”
Shares of Northeast Utilities (NYSE:NU) traded down 1.03% during mid-day trading on Friday, hitting $42.45. 1,481,090 shares of the company’s stock traded hands. 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 $41.73 and a 200-day moving average of $42.58. The company has a market cap of $13.361 billion and a P/E ratio of 17.39.
Northeast Utilities (NYSE:NU) last released its earnings data on Friday, November 1st. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by $0.04. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that Northeast Utilities will post $2.56 earnings per share for the current fiscal year.
NU has been the subject of a number of other recent research reports. Analysts at Credit Suisse initiated coverage on shares of Northeast Utilities in a research note to investors on Tuesday. They set an “outperform” rating and a $47.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Northeast Utilities in a research note to investors on Monday, October 7th. They set an “equal weight” rating and a $43.00 price target on the stock. Finally, analysts at Argus upgraded shares of Northeast Utilities from a “hold” rating to a “buy” rating in a research note to investors on Friday, September 27th. They now have a $49.00 price target on the stock, up previously from $41.44. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Northeast Utilities has a consensus rating of “Hold” and an average price target of $46.36.
Northeast Utilities (NYSE:NU) is a public utility holding company.
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