Yesterday, 7:34 AM
Thu, Jul. 28, 5:30 PM
Fri, Jul. 22, 2:50 PM
- Exelon (EXC +2.5%) is upgraded to Buy from Hold with a $39 price target, raised from $36, at Deutsche Bank, which calls EXC "a cheap play on regulated assets with catalysts."
- Deutsche Bank says it removed its PJM discount from valuations, given normalization seen in regional spark spreads as gas prices have rallied off lows; combined with a higher regulated multiple, the firm says the move bolsters valuations on PJM integrated heavyweights EXC and Public Service Enterprise (PEG +1.4%), with both having lagged top-performing regulated utilities and IPPs.
- Of the two stocks, the firm see a better near-term catalyst set with EXC and an entry point for a cheaper way to own regulated assets with attractive growth.
Tue, Jul. 19, 10:54 AM
Fri, Jul. 15, 10:10 AM
- Wells Fargo ticks off 20 S&P 500 stocks with the most upside potential vs. consensus, and the 20 with the most downside risk vs. consensus.
- The list is compiled by comparing the midpoint of Wells Fargo Securities valuation ranges to consensus fair value estimates, volatility adjusting the percentage difference, and ranking the resulting score.
- Upside: AEE, BEN, CCL, DVA, EIX, ES, EXC, FTR, HUM, INTC, JNJ, LNT, PEG, PNW, SCG, T, WEC, WU, XEL, XOM.
- Downside: ANTM, C, CI, COF, EQT, FOXA, FSLR, GS, KIM, LH, MON, MSI, MYL, NVDA, NWSA, SLG, TIF, TSO, UA, WLTW.
Thu, Jul. 14, 4:54 PM
- The Long Island Power Authority expects to approve a 90 MW wind farm off the coast of New York that would become the largest in the U.S. when completed.
- The state-owned utility, which is operated by Public Service Enterprise Group (NYSE:PEG), selected Deepwater Wind LLC to install 15 offshore turbines ~30 miles east of Montauk for a project that its board expects to approve at a meeting on July 20.
- Deepwater Wind already is building the first U.S. offshore wind farm near Block Island, R.I.
Mon, Jun. 27, 7:27 PM
- One of the biggest Brexit beneficiaries is the utilities sector, as the Dow Jones Utility Average and the SPDR Utilities Select Sector ETF both surged to new record highs as Treasury yields tumble to multiyear lows.
- The implied annual dividend yield for the Dow utilities is 3.08% and 3.18% for the utilities ETF, more than double the 10-year Treasury yield.
- J.P. Morgan equity strategists said today that they believe bond yields "are not going anywhere but lower,” and thus remain overweight on the utilities sector.
- At least six Dow utilities components posted record closes: NEE +3.3%, EIX +2.5%, AWK +2.4%, ED +1.9%, AEP +1.8%, PCG +0.8%.
- Among other major utilities in today's trade: SO +1.9%, DUK +1.9%, SCG +1.6%, ETR +1.1%, D +1%, AEE +1%, XEL +0.9%, SRE +0.9%, PEG +0.7%, FE +0.7%, EXC +0.6%.
- ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, PUI, SDP, PSCU
Tue, Jun. 7, 12:40 PM
- Public Service Enterprise (PEG -0.6%) is downgraded to Underperform from Neutral with a $41 price target, cut from $47, at BofA Merrill Lynch, which sees further downside risk even after shares have underperformed peers since PJM’s capacity market auction prices were announced last month.
- BofA says weak capacity auction results indicate that "the long expected debottlenecking of New Jersey's longstanding power pricing premium is finally here, [which] should lead to weaker margins at PSEG's deregulated generation segment."
- The firm calculates that a structural flattening of capacity prices and energy prices in New Jersey to the rest of PJM equates to a reduction in PEG’s EPS of $0.32 and EBITDA of $255M.
Fri, Apr. 29, 7:33 AM
Thu, Apr. 28, 5:30 PM| Thu, Apr. 28, 5:30 PM | 3 Comments
Fri, Feb. 19, 7:48 AM
Thu, Feb. 18, 5:30 PM
Tue, Feb. 16, 12:23 PM
Tue, Jan. 12, 3:02 PM
- Morgan Stanley upgrades the regulated utilities industry to In-Line from Cautious, believing the market will better differentiate high-growth names from others in 2016 and that the valuation gap between undervalued public companies and overvalued private companies will begin to close.
- The firm names Dynegy (DYN -2.7%) its top overall pick in the space, but also remains Overweight on NRG Energy (NRG -2.7%) and Calpine (CPN -4.5%), while maintaining its Underweight rating on Consolidated Edison (ED -1.5%), Southern Co. (SO -0.9%) and Public Service Enterprise (PEG -0.5%).
- Stanley also downgrades Laclede (LG -1.9%) and Pinnacle West (PNW -2.4%) to Underweight from Equal Weight.
Nov. 19, 2015, 12:16 PM
- Public Service (NYSE:PEG) declares $0.39/share quarterly dividend, in line with previous.
- Forward yield 3.95%
- Payable Dec. 31; for shareholders of record Dec. 9; ex-div Dec. 7.
Nov. 16, 2015, 3:25 PM
- PSE&G (PEG +1.6%) says the New Jersey Board of Public Utilities approved its three-year, $905M program to expedite the replacement of aging gas pipes that were leaking methane.
- The project, which will raise gas rates by an average of 1.5%/year over four years, calls for 510 miles of new gas mains and 38K gas connections to homes and businesses to be installed over three years by PSE&G.
- As part of the deal, PSE&G must reduce methane emissions by at least 20%/year in areas where new piping is installed.
Public Service Enterprise Group, Inc. operates as a holding company with a diversified business mix within the energy industry. Its operations are primarily in the Northeastern and Mid Atlantic United States and in other select markets. The company's principal direct wholly owned subsidiaries... More
Industry: Diversified Utilities
Country: United States
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