7. Northeast Utilities System (NU), a public utility holding company, operating through its wholly owned utility subsidiaries, delivers energy to residential, commercial and industrial customers. Besides owning four subsidiaries, the company owns a number of unregulated businesses through its subsidiary NU Enterprises. Northeast Utilities will report its second-quarter results on Wednesday.
The company recently declared a quarterly dividend of 27.5 cents per share, payable Sept. 30, 2011. The annualized dividend amount of $1.10 per share represents an increase of $0.075 per share from the earlier dividend of $1.025, in effect since March 2010. The company has a dividend yield of 3.06%.
Analysts polled by Bloomberg expect NU to record sales of $1.13 billion for the second quarter compared to $1.11 billion a year ago. Net income for the quarter is seen increasing by 20% to $86.22 million or 48 cents per share from $71.95 million or 41 cents per share in the comparable quarter prior year. Operating profit is estimated to increase by 13% to $201 million, while cash flow per share is likely at $1.35 during the quarter.Of the 15 analysts covering the stock, 33% suggest a buy and 60% rate a hold. Analysts polled by Bloomberg see the stock gaining an average 6.2% to $36.38 in the upcoming 12 months.