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Stock Market & Financial Investment News

News Breaks
January 30, 2013
05:53 EDTDUK, EXC, EIX, ETRCheap gas threatens nuclear power, WSJ reports
U.S. utilities are facing something they never expected: some natural-gas-fired power plants cost less to operate than nuclear units. That's leading some companies to consider shuttering their nuclear facilities, reports the Wall Street Journal. Among the nuclear plants regarded as vulnerable by UBS (UBS) Investment Research are Exelon Corp.'s (EXC) Clinton plant in Illinois and its Ginna plant in New York, as well as Entergy Corp.'s (ETR) Vermont Yankee and FitzPatrick plants in Vermont and New York. Plants facing costly repairs include Edison International's (EIX) San Onofre plant in Southern California and Duke Energy's (DUK ) Crystal River plant in Florida, both now idled. Reference Link
News For EXC;ETR;EIX;DUK From The Last 14 Days
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May 19, 2015
15:36 EDTEXCPepco takeover by Exelon approved by Delaware regulators, Bloomberg reports
Delaware's PSC voted 3-0 in favor of approving he takeover, Bloomberg reported, citing an email statement from a spokesman for the regulator.
08:10 EDTEXCHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "Discussion Draft Addressing Energy Reliability and Security" with Director Bardee of FERC, President & CEO Fanning of Southern Company, Executive Vice President Dominguez of Exelon Corp., and Vice President Heitman of ABB, Inc. on May 19 at 10 am. Webcast Link
08:04 EDTDUKDuke Energy to retire Asheville coal-fired power plant in four to five years
Duke Energy announced plans to retire its Asheville, N.C., coal-fired power plant in four to five years and modernize its generation and transmission system in western North Carolina and upstate South Carolina. The plan's major components include retiring the 376-megawatt Asheville coal power plant, investing approximately $750M to build a 650-megawatt natural gas-fired power plant, and installing solar generation at the site one of the first combinations of its kind. The plan includes investing approximately $320M to build a transmission substation near Campobello, S.C., and connect it to the Asheville power plant with a new approximately 40-mile, 230-kiloVolt transmission line. It also includes upgrading and rebuilding additional electrical infrastructure such as transmission lines and distribution substations. Carbon dioxide emissions will be reduced by about 60 percent, on a per-megawatt hour basis, due to the efficiency of the new gas plant and the fact that natural gas burns more cleanly than coal. The new gas plant also will help reduce carbon dioxide emissions across Duke Energy's Carolinas power plant fleet. Closing the Asheville coal plant and building a gas plant will make it unnecessary to invest in 126 megawatts of oil-fired generation units, to meet peak demand, and other capital investments that were planned for 2019. The power plant and electric transmission projects will create a peak construction workforce of about 800 jobs in the 2017-2019 timeframe, and generate significant local property tax revenues when brought in-service. Based on current Buncombe County tax rates, property taxes from the gas power plant are estimated to increase between 35 and 40 percent after the site is modernized.
May 18, 2015
14:59 EDTDUKDuke Energy management to meet with JPMorgan
Meetings to be held in Dallas on May 20, in Austin/Dallas on May 21 and in Austin/Houston on May 22 hosted by JPMorgan.
08:02 EDTEXCExelon, Pepco accept, pledge to fulfill conditions in merger order from MPSC
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May 15, 2015
14:46 EDTEXCExelon, Pepco say MPSC approval must be 'carefully' reviewed
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13:38 EDTEXCMaryland PSC conditionally approves Exelon, Pepco merger
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12:39 EDTEIXWells identifies NextEra, Sempra as among favorite utility names
Utilities as a group have dropped in recent months and there are several names in the sector that offer relative value and exposure to secular growth trends, Wells Fargo stated in a note to investors today. WHAT'S NEW: The utilities sector is trading at a forward multiple that is 93% of the S&P 500, versus the ten year average of 102%, according to Wells. Moreover, utilities are "slightly cheap" relative to interest rates, the firm thinks. NextEra Energy (NEE) and Sempra Energy (SRE) have the best growth opportunities in the utility space, according to Wells. They also have proven management teams and are well-positioned to exploit long-term trends, including renewable energy and energy infrastructure, the firm believes. ITC Holdings (ITC) has reached an attractive entry point and, to a degree, offers a near-term hedge against an interest rate increase, according to the firm. Edison International (EIX) and Xcel Energy (XEL) are underappreciated regulated utilities, added Wells. Edison trades in-line with its peers despite superior EPS growth potential and Xcel trades at a 3%-6% discount to the sector despite its at least in-line EPS growth and comparable regulatory risk, which might ease, the firm added. PRICE ACTION: In early afternoon trading, NextEra rose 0.5%, Sempra gained 0.6%, Edison added 0.6%, Xcel climbed 0.4% and ITC was little changed.
07:49 EDTEIXWells Fargo identifies favorite utility names
Wells Fargo says that NextEra Energy (NEE) and Sempra Energy (SRE) have the best growth opportunities in the utility space as well as proven management teams, and are well-positioned to exploit long-term trends. ITC Holdings (ITC) has reached an attractive entry point, and, to a degree, offers a near-term hedge against an interest rate increase, according to the firm. Edison International (EIX) and Xcel Energy (XEL) are underappreciated regulated utilities, added Wells.
06:07 EDTDUKDuke Energy units to pay $102M for Clean Water Act crimes
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May 14, 2015
12:39 EDTDUKDuke Energy issues statement on court approval of coal ash agreement with DOJ
The company said, "Today's decision by Judge Malcolm Howard officially closes this chapter in our company's history. We've used the Dan River incident as an opportunity to set a new, industry-leading standard for the management of coal ash. We are implementing innovative and sustainable closure solutions for all of our ash basins, building on the important steps we've taken over the past year to strengthen our operations. Our highest priority is to operate our system as safely as possible for the customers and communities we serve."
10:00 EDTDUKOn The Fly: Analyst Downgrade Summary
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07:33 EDTDUKDuke Energy downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse reinstated Duke Energy with a Neutral rating from and Outperform rating and an $86 price target, up from $79. The firm said shares currently trade in-line with peers and the company has successfully resolved a number of overhangs during its restriction on shares.
May 13, 2015
16:12 EDTDUKDuke Energy downgraded to Neutral from Outperform at Credit Suisse
May 11, 2015
08:26 EDTDUKDuke Energy issues statement on IURC grid modernization order
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May 10, 2015
12:54 EDTEIX, DUKDuke, Edison, other utilities could return 8% annually, Barron's says
Shares of Duke Energy (DUK), Southern Company (SO), Consolidated Edison (ED), Edison International (EIX), PG&E (PCG), American Electric (AEP), Dominion (D), and NextEra Energy (NEE) could return 8% or more annually in coming years, Barron's contends in a feature article. Though utilities are sometimes seen as no-growth businesses, Barron's argues that infrastructure replacement projects, rate hikes, and dividend boosts make the sector look attractive. Reference Link

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