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Following energy issues in the state of Connecticut and beyond.

Sunday, July 5, 2015

UIL Holdings Stock Dips

Think that last week's announcement that Connecticut utility regulators were tentatively rejecting the UIL Holdings' $3 billion deal with Spanish energy giants Iberdrola didn't hurt the New Haven-based company?

The performance of  UIL's stock price stock price suggests that it did.

Over the past week, UIL Holdings stock price fell $3.11 or  6.4 per percent from Monday's high of $48.45 to $45.34 at the close of trading on Thursday during a holiday-shortened trading week. The announcement of the decision by Connecticut's Public Utilities Regulatory Authority regarding the proposed  UIL-Iberdrola merger came Tuesday afternoon.

The stock hit a low for the week of $44.16 early Thursday before adding $1.18 over the remainder of that afternoon.

UIL Holdings is the parent company of The United Illuminating Co., which is an electric distribution company, as well as Southern Connecticut Gas, Connecticut Natural Gas and Berkshire Gas, which serves customers in western Massachusetts. The company's stock trades under the ticker symbol UIL on the New York Stock Exchange.

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