Why Eversource Energy Stock Was Wilting This Week

Recently, it seemed almost like someone shut the lights off on Eversource Energy (NYSE: ES) stock. Investors traded out of the regional New England electric and natural gas utility in a rout that began on Wednesday, following a regulator's decision. Week-to-date as of mid-afternoon Friday the company's shares were down nearly 12% in price, according to data compiled by S&P Global Market Intelligence. On Wednesday, Connecticut's Public Utilities Regulatory Authority (PURA) turned down Eversource's proposed sale of its water utility unit, Aquarion. This was to be a major deal -- the company had agreed to divest it to a quasi-public corporation in the state, the Aquarion Water Authority, in a transaction valued at around $2.4 billion.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool