Many investors could benefit from a sleep-well-at-night stock or two, and Northeast Utilities (NU), first discussed here on May 5, 2009 at a price of $21.48, fits the bill. Northeast's proposed merger with NStar (NST) should close in the second half of 2011, and create one of the largest utility companies in the U.S. The deal should be accretive to earnings in 2011.
The new, larger company will take the Northeast Utilities name, and will own six regulated gas and electric utilities operations in New England, primarily in Connecticut, Massachusetts and New Hampshire, serving 3.5 million customers. The combined company will pay an annual dividend of $1.60, up from NU's current $1.02 annual dividend.
Source: BloggingStocks
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