|Bid||59.23 x 1000|
|Ask||59.24 x 1200|
|Day's Range||58.67 - 59.30|
|52 Week Range||52.76 - 66.15|
|PE Ratio (TTM)||18.82|
|Earnings Date||Jul 25, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||2.02 (3.46%)|
|1y Target Est||62.71|
CLINTON, Conn., July 16, 2018 /PRNewswire/ -- Connecticut Water Service, Inc. (CTWS) today issued the following statement regarding recent mischaracterizations of Eversource Energy's (ES) July 2, 2018 acquisition proposal. To avoid any confusion regarding the terms of Eversource's revised acquisition proposal, Connecticut Water clarified that Eversource's proposal is not for $66.00 per share. Eversource has only made a less than 1 percent increase to $64.00 per share from its prior inadequate, below market proposal.
This could indicate that investors who seek to profit from falling equity prices are not currently targeting ES. Over the last one-month, outflows of investor capital in ETFs holding ES totaled $1.20 billion.
** French oil and gas major Total said that it has completed a $1.5 billion deal to acquire Engie's ENGIE upstream Liquefied Natural Gas (LNG) business to become the second-largest player in the global LNG market. ** Xerox Corp is considering the sale of a leasing unit that lends money to customers to rent printers and equipment, to make itself more attractive to potential acquirers following the termination of its $6.1 billion sale to Fujifilm Holdings Corp, people familiar with the matter said.
Connecticut Water Service Inc rejected a revised takeover offer from Eversource Energy, according to regulatory filings from both companies on Friday, insisting it would consider abandoning its planned merger with another utility only for a much higher offer. The episode is the latest in a contentious four-way water utility merger battle that emerged after Connecticut Water and SJW Group announced in March they planned to combine, with California Water Service Group also involved. Clinton-based Connecticut Water, which turned down a previous takeover proposal from Eversource Energy, said it had received a $64 per share offer on July 2, but its board unanimously rejected this as it was "inadequate and still undervalues" the company, given it was worth less than 1 percent more than the dismissed April deal.
Eversource Energy (ES) today confirmed that it has submitted a revised proposal to acquire Connecticut Water Service, Inc. (CTWS), which it believes provides a superior alternative to the previously agreed takeover of Connecticut Water by SJW Group (SJW) (“San Jose Water”). Under the terms of Eversource’s superior proposal, Eversource would acquire all of the outstanding shares of Connecticut Water common stock for $64.00 per share in cash and/or in Eversource common stock at the election of Connecticut Water shareholders.
Eversource's Revised $64.00 Per Share Proposal Represents a Less Than 1% Increase from Previously Rejected $63.50 Per Share Proposal Following Comprehensive Review, Connecticut Water Service Board Unanimously ...
This could indicate that investors who seek to profit from falling equity prices are not currently targeting ES. Over the last one-month, outflows of investor capital in ETFs holding ES totaled $3.14 billion.
WallStEquities.com has selected the following Diversified Utilities stocks for review today: Avista Corp. (AVA), Cosan Ltd (NYSE: CZZ), Eversource Energy (NYSE: ES), and Pattern Energy Group Inc. (NASDAQ: PEGI). Utility companies have always remained popular investment prospects for income-seeking investors, as these companies offer high dividend yields. All you have to do is sign up today for this free limited time offer by clicking the link below.
NOTE: On July 02, 2018, the press release was corrected as follows: In the debt list, under Upgrades for issuer Connecticut Light and Power Company, added Underlying Senior Secured First Mortgage bonds, Upgraded to A1 from A2. New York, June 27, 2018 -- Moody's Investors Service (Moody's) upgraded The Connecticut Light and Power Company's (CL&P) ratings, including Issuer Rating to A3 from Baa1 and first mortgage bond rating to A1 from A2. The rating outlook is stable.
Moody's Investors Service (Moody's) upgraded The Connecticut Light and Power Company's (CL&P) ratings, including Issuer Rating to A3 from Baa1 and first mortgage bond rating to A1 from A2. The rating outlook is stable.
This article is intended for those of you who are at the beginning of your investing journey and want to better understand how you can grow your money by investingRead More...
Eversource Energy (ES) today commented on the termination of the flawed and ineffective “go-shop” process designed by Connecticut Water Service, Inc. (CTWS) and SJW Group (SJW) (“San Jose Water”) to entrench the previously agreed takeover of Connecticut Water by San Jose Water. As Eversource expected, Connecticut Water confirmed yesterday that its “go-shop” process failed to solicit even a single additional indication of interest to acquire Connecticut Water. On June 5, 2018, upon the announcement of Connecticut Water’s “go-shop” process, Eversource announced that rather than being designed to solicit potentially superior proposals for the benefit of Connecticut Water shareholders, the “go-shop” process instead failed to reflect a sincere intention to consider superior alternatives.
Moody's Investors Service, (Moody's) affirmed NSTAR Electric Company's long and short-term ratings including its A2 Issuer Rating and Prime-1 commercial paper rating and changed its rating outlook to positive from stable. Moody's also affirmed its parent, Eversource Energy's long and short-term ratings including its Baa1 Issuer Rating and Prime-2 commercial paper rating.
Eversource Energy (ES) today reiterated its offer to acquire Connecticut Water Service, Inc. (CTWS) at $63.50 per share in cash and/or Eversource shares. Eversource is not increasing its standing proposal, but is providing a clear path for Connecticut Water shareholders to receive incremental value above $63.50 per share. Eversource’s superior proposal continues to be a highly attractive option for Connecticut Water, with no financing contingency and no Eversource shareholder vote required for approval.
NEW YORK, June 13, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Och-Ziff ...
California's utilities regulator has told SJW Group it must seek approval for its proposed merger with Connecticut Water Service Inc, according to a document provided by the regulator to Reuters, a move that creates a potentially significant impediment to the deal. The deal is part of a contentious four-way water utility merger battle, also involving California Water Services Group and Eversource Energy. A regulatory review in California would likely extend the time needed to approve the merger by many months, given the state's active approach to oversight, analysts have said.
Moody's Investors Service (Moody's) placed the long-term ratings of The Connecticut Light and Power Company (CL&P) on review for upgrade, including CL&P's Baa1 issuer rating and A2 first mortgage bond ratings. At the same time, Moody's affirmed Yankee Gas Services Company's (Yankee Gas) Baa1 long-term issuer rating with a stable outlook.
Eversource Energy (ES) today strongly criticized the recently disclosed amendments to the merger agreement between Connecticut Water Service, Inc. (CTWS) and SJW Group (SJW) (“San Jose Water”). Eversource believes that the recent actions taken by Connecticut Water reinforce that its board and management team are not seriously considering the superior proposal by Eversource. Connecticut Water is continuing to attempt to solidify San Jose Water as the acquirer in a transaction that is not in the best interest of Connecticut Water shareholders.
WallStEquities.com revisits the Diversified Utilities industry, which consists of companies that provide consumers and businesses with electricity, natural gas, and water. Lined up for assessment this morning are these four stocks: ALLETE Inc. (NYSE: ALE), Avista Corp. (NYSE: AVA), Cosan Ltd (NYSE: CZZ), and Eversource Energy (NYSE: ES).
Eversource (ES) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Connecticut Water (CTWS) is likely to explore possible alternate offers for merger and acquisition through amendment in the merger agreement with SJW Group.
The deal amendment announced Thursday allows Connecticut Water to review and negotiate proposals from third parties until 11:59 p.m. Eastern on July 14. Although both sides have received unsolicited offers, the go-shop provision only applies to Connecticut Water. The amendment was unanimously approved by Connecticut Water’s board.