Progress Energy Inc. (PGN): Today's Featured Utilities Winner

Progress Energy (PGN) pushed the Utilities sector higher today making it today's featured utilities winner. The sector as a whole closed the day down 0.7%. By the end of trading, Progress Energy rose 68 cents (1.2%) to $55.50 on light volume. Throughout the day, 1.9 million shares of Progress Energy exchanged hands as compared to its average daily volume of 2.5 million shares. The stock ranged in a price between $54.23-$55.68 after having opened the day at $54.23 as compared to the previous trading day's close of $54.82. Other companies within the Utilities sector that increased today were: Dynegy (DYN), up 11.5%, Transportadora de Gas del Sur (TGS), up 2.4%, Ellomay Capital (ELLO), up 2.2%, and China Hydroelectric Corporation (CHC), up 1.7%.

Progress Energy, Inc., a utility holding company, engages in the generation, transmission, distribution, and sale of electricity in North Carolina, South Carolina, and Florida. Progress Energy has a market cap of $16.1 billion and is part of the utilities industry. The company has a P/E ratio of 30.2, above the average utilities industry P/E ratio of 29.7 and above the S&P 500 P/E ratio of 17.7. Shares are down 2.1% year to date as of the close of trading on Thursday. Currently there are no analysts that rate Progress Energy a buy, no analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Progress Energy as a buy. Among the primary strengths of the company is its solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

• You can view the full Progress Energy Ratings Report.

On the negative front, Atlas Energy (ATLS), down 7.7%, Clean Energy Fuels Corporation (CLNE), down 5.5%, Targa Resources (TRGP), down 4.1%, and ONEOK (OKE), down 3.8%, were all losers within the utilities sector with Edison International (EIX) being today's utilities sector loser.

• Use our utilities section to find sector-relevant news.
• Or find some new ideas from our top rated stocks lists.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the utilities sector could consider Utilities Select Sector SPDR (XLU) while those bearish on the utilities sector could consider ProShares UltraShort Utilities (SDP).

• Find other investment ideas from our top rated ETFs lists.

 

For more information on Progress Energy Inc. click any of the following:

• Progress Energy Inc. Stock Price

• Progress Energy Inc. Analyst Ratings

• Progress Energy Inc. Key Stats & Profile

• Progress Energy Inc. Earnings

• Progress Energy Inc. Ratio Comparison

• Progress Energy Inc. Growth Rates

• Progress Energy Inc. Balance Sheet

• Progress Energy Inc. Cash Flow

• Progress Energy Inc. Income Statement