NSTAR (NST, Financial) filed Quarterly Report for the period ended 2010-03-31.
Nstar has a market cap of $3.91 billion; its shares were traded at around $36.6 with a P/E ratio of 15.98 and P/S ratio of 1.28. The dividend yield of Nstar stocks is 4.37%. Nstar had an annual average earning growth of 3% over the past 10 years.NST is in the portfolios of Stanley Druckenmiller of Duquesne Capital Management, LLC, Jeremy Grantham of GMO LLC, Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors.
As part of the Rate Settlement Agreement, NSTAR Electric is allowed to recover incremental spending for the double pole inspection, replacement/restoration and transfer program and the underground electric safety program, which includes stray-voltage remediation and manhole inspections, repairs, and upgrades. Recovery of these CPSL costs is subject to DPU review and approval. NSTAR Electric incurred incremental costs of $11 million, $13 million, $15 million and $16 million in 2006, 2007, 2008 and 2009, respectively. During 2010, approximately $4.8 million has been incurred. This includes
NSTAR Electric has filed its 2010 Energy Efficiency Plan and anticipates that the program will amount to about $122 million in spending. NSTAR Gas has filed its 2010 Energy Efficiency Plan and anticipates that the program will amount to about $14.5 million in spending. These 2010 plans were approved by DPU on January 28, 2010.
NSTARs current quarterly cash dividend rate is $0.40 per share or $1.60 per share on an annualized basis. On March 25, 2010, NSTARs Board of Trustees declared a quarterly cash dividend of $0.40 per share to shareholders of record on April 9, 2010, payable May 1, 2010.
Firm and transportation gas revenues primarily represent charges to customers for the Companys recovery of costs of its capital investment in gas infrastructure, including a return component, and for the recovery of costs for the ongoing operation and maintenance of that infrastructure. The transportation revenue component represents charges to customers for the recovery of costs to move the natural gas over pipelines from gas suppliers to take stations located within the Companys service area. Firm and transportation revenues decreased $1.8 million primarily due to customers reducing usage as a result of milder winter weather, which resulted in a decrease in sales volumes of 5.4% ($2.9 million).
Unregulated operating revenues are derived from NSTARs telecommunications operations. Unregulated revenues were $4.3 million for the quarter ended March 31, 2010 compared to $4 million in 2009, an increase of $0.3 million, or 7.5%. The increase in unregulated revenues is primarily the result of new contracts added over the past year.
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Nstar has a market cap of $3.91 billion; its shares were traded at around $36.6 with a P/E ratio of 15.98 and P/S ratio of 1.28. The dividend yield of Nstar stocks is 4.37%. Nstar had an annual average earning growth of 3% over the past 10 years.NST is in the portfolios of Stanley Druckenmiller of Duquesne Capital Management, LLC, Jeremy Grantham of GMO LLC, Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
Net income attributable to common shareholders for the three-month period ended March 31, 2010, was $59.7 million or $0.56 diluted earnings per share, as compared to $61 million, or $0.57 diluted earnings per share for the same period in 2009, as further explained below.As part of the Rate Settlement Agreement, NSTAR Electric is allowed to recover incremental spending for the double pole inspection, replacement/restoration and transfer program and the underground electric safety program, which includes stray-voltage remediation and manhole inspections, repairs, and upgrades. Recovery of these CPSL costs is subject to DPU review and approval. NSTAR Electric incurred incremental costs of $11 million, $13 million, $15 million and $16 million in 2006, 2007, 2008 and 2009, respectively. During 2010, approximately $4.8 million has been incurred. This includes
NSTAR Electric has filed its 2010 Energy Efficiency Plan and anticipates that the program will amount to about $122 million in spending. NSTAR Gas has filed its 2010 Energy Efficiency Plan and anticipates that the program will amount to about $14.5 million in spending. These 2010 plans were approved by DPU on January 28, 2010.
NSTARs current quarterly cash dividend rate is $0.40 per share or $1.60 per share on an annualized basis. On March 25, 2010, NSTARs Board of Trustees declared a quarterly cash dividend of $0.40 per share to shareholders of record on April 9, 2010, payable May 1, 2010.
Firm and transportation gas revenues primarily represent charges to customers for the Companys recovery of costs of its capital investment in gas infrastructure, including a return component, and for the recovery of costs for the ongoing operation and maintenance of that infrastructure. The transportation revenue component represents charges to customers for the recovery of costs to move the natural gas over pipelines from gas suppliers to take stations located within the Companys service area. Firm and transportation revenues decreased $1.8 million primarily due to customers reducing usage as a result of milder winter weather, which resulted in a decrease in sales volumes of 5.4% ($2.9 million).
Unregulated operating revenues are derived from NSTARs telecommunications operations. Unregulated revenues were $4.3 million for the quarter ended March 31, 2010 compared to $4 million in 2009, an increase of $0.3 million, or 7.5%. The increase in unregulated revenues is primarily the result of new contracts added over the past year.
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