Bloomberg the Company

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Northeast Utilities Rises on Investment `Flock to Safety'

Don't Miss Out —
Follow us on:

July 13 (Bloomberg) -- Northeast Utilities, New England’s largest utility owner, rose to a record as investors sought a safe investment in the face of the European crisis and U.S. economic slowdown.

Northeast, based in Boston and Hartford, Connecticut, surged 2.1 percent to $39.88 at the close in New York, the highest since shares began trading publicly in 1980.

“Utilities in general are doing well recently,” Andrew Weisel, a New York-based analyst at Macquarie Capital USA Inc., said in a phone interview today. “The treasury yield is below 1.5 percent for the 10-year note whereas utility stocks yield over 4 percent on average. This is definitely a flock to safety.”

The Bloomberg Americas Utilities Index, which has gained 3.5 percent this year, today reached its highest level since September 2008. Northeast completed its $5.04 billion takeover of Nstar in April, creating the region’s largest utility owner.

To contact the reporter on this story: Benjamin Haas in New York at

To contact the editor responsible for this story: Tina Davis at