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Stock Market & Financial Investment News

News Breaks
December 12, 2012
09:03 EDTSRESempra Energy receives final approvals for power-purchase agreement
Sempra U.S. Gas & Power announced that the cities of Los Angeles and Burbank have approved a 20-year agreement to purchase 250 megawatts of solar power from Sempra U.S. Gas & Power's proposed Copper Mountain Solar 3 project to be constructed in Boulder City, Nev. The Copper Mountain Solar 3 agreement provides the Los Angeles Department of Water and Power with the bulk of the power produced by the solar power plant - 210 MW - through an agreement with the Southern California Public Power Authority.
News For SRE From The Last 14 Days
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May 15, 2015
12:39 EDTSREWells 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 EDTSREWells 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.

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