NEW YORK ( TheStreet) -- Northeast Utilities (NYSE: NU) hit a new 52-week high Friday as it is currently trading at $39.50, above its previous 52-week high of $39.30 with 38,119 shares traded as of 9:40 a.m. ET. Average volume has been 2.1 million shares over the past 30 days.

Northeast Utilities has a market cap of $12.18 billion and is part of the utilities sector and utilities industry. Shares are up 7.7% year to date as of the close of trading on Thursday.

Northeast Utilities, a public utility holding company, provides energy delivery services to residential, commercial, and industrial customers in Connecticut, New Hampshire, and Massachusetts. The company has a P/E ratio of 18.1, equal to the average utilities industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Northeast Utilities as a buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Northeast Utilities Ratings Report.

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