Financial PerformanceShares currently trade at a ~16% P/E discount to the electric utility group, and shares could re-rate to a low-single-digit discount as the company pays down debt and improves its balance sheet.
Investment OpportunitiesIncreasing confidence in capex upside, with $2bn+ in opportunities within the current plan and a bullish outlook thereafter.
Regulatory EnvironmentConnecticut regulation may be turning the corner, with a tone change from Chairman Gillett and Governor Lamont taking a more proactive role in utility regulations.