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Home > Fortune 500 Companies > Northeast Utilities
Northeast Utilities
Northeast Utilities was established in 1927 and is based in Springfield, Massachusetts. It is a publicly traded company having a good stock performance result. Northeast Utilities is a fortune 500 stock listed company trading under NU.
Northeast Utilities, through its subsidiaries, provides retail electric services primarily in New Hampshire, Connecticut, and western Massachusetts. It engages in generation, transmission, and distribution of electricity, as well as provision of retail natural gas service to commercial, residential, and industrial customers. The company also provides pumped storage and conventional hydroelectric power in the northeastern United States.
In addition, the company engages in the ownership, acquisition, maintenance, management, and service of fossil and hydro power, and other generation assets; and provision of energy management, demand-side management and related consulting services, and high voltage electrical contracting services for commercial, industrial, and electric utility companies, and institutional customers,. Northeast Utilities also markets, transports, stores, and sells energy commodities in the northeastern and middle Atlantic states.
The Northeast Utilities Board of Trustees stated a regular quarterly dividend of 0.175 dollars per share, payable on June 30, 2006 to shareholders of record as of the close of business on June 1, 2006.
Northeast Utilities regulated businesses earned 163.4 million dollars in 2005, or 1.24 dollars per share, compared with earnings of 155.6 million dollars, or 1.21 dollars per share, in 2004. The 2005 results include earnings of 42.5 million dollars, or 0.32 dollars per share in Northeast Utilities electric transmission business, compared with earnings of 29.5 million dollars, or 0.23 dollars per share, in 2004. In the fourth quarter of 2005, Northeast Utilities regulated companies earned 49.1 million dollars, or 0.36 dollars per share, including one-time employee termination and benefit plan curtailment charges of 12.3 million dollars after-tax, compared with earnings of 37.2 million dollars, or 0.29 dollars per share, in the same period of 2004.
Northeast Utilities investment in this high-voltage system is probable to total up to 2.3 billion dollars over the next five years, with the major projects already approved and cost recovery mechanisms in place.
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