Public Service Enterprise Group (
PEG) 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, Public Service Enterprise Group rose 25 cents (0.7%) to $34 on light volume. Throughout the day, 2.2 million shares of Public Service Enterprise Group exchanged hands as compared to its average daily volume of 3.2 million shares. The stock ranged in a price between $33.59-$34.07 after having opened the day at $33.64 as compared to the previous trading day's close of $33.75. Other companies within the Utilities sector that increased today were:
Ocean Power Technologies (
OPTT), up 7.8%,
GreenHunter Energy (
GRH), up 4.1%,
Active Power (
ACPW), up 2.8%, and
TransCanada (
TRP), up 2.1%.
Public Service Enterprise Group Incorporated, through its subsidiaries, operates in the energy industry primarily in the northeastern and mid Atlantic United States. Public Service Enterprise Group has a market cap of $16.83 billion and is part of the
utilities industry. The company has a P/E ratio of 11.8, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 2.2% year to date as of the close of trading on Friday. Currently there is one analyst that rates Public Service Enterprise Group a buy, one analyst rates it a sell, and 11 rate it a hold.
TheStreet Ratings rates Public Service Enterprise Group as a
buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
On the negative front,
Huaneng Power International (
HNP), down 3.5%,
Connecticut Water Service (
CTWS), down 2.9%, and
American DG Energy (
ADGE), down 2.4%, were all laggards within the utilities sector with
Calpine (
CPN) being today's utilities sector laggard.
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).
