NSTAR Electric Company PFD 4.25% (NSARP): fair value, margin of safety and Wheel Score

Is NSARP undervalued?

At 65.40 (close of 5 Nov 2026), NSARP trades 100% below the GLS average fair value of 16,336.15. That average comes from 8 models run on the latest filings, and 5 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns NSTAR Electric Company PFD 4.25% the full Value points in the Wheel Score - and a closer look at what the market is pricing in.

The 8 models disagree widely: Lynch gives 13.80 while 10 Cap gives 128,312.57. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.

NSARP looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.

Nine valuation models for NSARP

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

Financial health is average - NSARP passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. There is no GLS Moat score for NSARP: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.

Returns on capital are thin or negative - ROIC 4.6%, ROE 8.3%, ROA 3.1% - with debt at 0.81 times equity and a free-cash-flow yield of 8734.2%.

The dividend yield is high at 6.37% (payout ratio 60760%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Residential 41%, Commercial 28%, Other Revenue Adjustments from Contract… 13% (quarter Q2 FY2026).

Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 29: No options

NSARP has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (29 here). The valuation and quality numbers still apply to owning the shares outright.

Volume runs at 0k shares a day on a market cap of $27.6B, with a beta of -0.13 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that strong.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for NSARP in the nightly calendar.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

Similar stocks in Regulated Electric

The 12 companies below are the closest to NSTAR Electric Company PFD 4.25% by market cap within the Regulated Electric industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.

⚖ Compare NSARP with 7 of them   All Utilities stocks →