Progress Energy Inc. (PGN): Today's Featured Utilities Winner
(
) pushed the Utilities sector higher today making it today's featured utilities winner. The sector as a whole closed the day up 0.5%. By the end of trading, Progress Energy rose 31 cents (0.6%) to $54.58 on average volume. Throughout the day, 2.4 million shares of Progress Energy exchanged hands as compared to its average daily volume of 2.4 million shares. The stock ranged in a price between $54.25-$55.37 after having opened the day at $54.62 as compared to the previous trading day's close of $54.27. Other companies within the Utilities sector that increased today were:
(
), up 6%,
(
), up 5.7%,
Distribution and Marketing Company of the N
(
), up 5.4%, and
(
), up 3.7%.
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 $16.23 billion and is part of the
industry. The company has a P/E ratio of 30.5, above the average utilities industry P/E ratio of 30 and above the S&P 500 P/E ratio of 17.7. Shares are down 3.1% year to date as of the close of trading on Wednesday. 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
. 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,
China Hydroelectric Corporation
(
), down 7.8%,
(
), down 3.9%,
(
), down 3.6%, and
(
), down 2.5%, were all losers within the utilities sector with
(
) 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
(
) while those bearish on the utilities sector could consider
ProShares UltraShort Utilities
(
).
- Find other investment ideas from our top rated ETFs lists.
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