Utility firm Eversource to sell water supply unit in $2.4 billion deal
1. Eversource Energy sells water supply unit for $2.4 billion, reducing debt. 2. Company shifts focus to electric and natural gas sectors.
FAQ
Why Bullish?
Reducing debt strengthens financial health, potentially boosting stock price, similar to past divestitures by utilities.
How important is it?
The divestiture aligns with strategic reallocation, likely to positively influence ES price.
Why Long Term?
Long-term focus on core sectors could enhance profitability over time, as seen in industry trends.