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UPDATE: Jefferies Raises PT on PG&E to $51
Wednesday, May 18, 2011 - 7:49am | 95Jefferies is out with its report today on PG&E (NYSE: PCG), raising its PT from $50.50 to $51. In a note to clients, Jefferies writes, "Taking our 2013 EPS estimate of $3.70 in conjunction with a 13.6x P/E multiple (2013 average utility P/E multiple), we arrive at a price target of $51.00....
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Ladenburg Thalmann Initiates California Water Service At Buy, $42 PT
Wednesday, May 18, 2011 - 7:45am | 26Ladenburg Thalmann has initiated coverage on California Water Service (NYSE: CWT) with a Buy rating and $42 price target.
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Ladenburg Thalmann Initiates Connecticut Water Service At Neutral, $25 PT
Wednesday, May 18, 2011 - 7:43am | 26Ladenburg Thalmann has initiated coverage on Connecticut Water Service (NASDAQ: CTWS) with a Neutral rating and $25 price target.
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Wunderlich Securities Reiterates Buy and PT of $44 on Scana Corporation
Wednesday, May 18, 2011 - 6:17am | 182Wunderlich Securities reiterated its Buy rating and price target of $44 on Scana Corporation (NYSE: SCG). In a research report published today, Wunderlich stressed it continues to see Scana as an attractive investment, in spite of design certification delays setback. In the report, Wunderlich...
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Jefferies Changes PT on PCG, RWT, TSL
Wednesday, May 18, 2011 - 6:02am | 57Jefferies & Company has changed the price targets on the following companies: PG&E Corporation (NYSE: PCG) from $50.50 to $51, Buy Redwood Trust (NYSE: RWT) from $18 to $16.50, Buy Trina Solar (NYSE: TSL) from $38 to $30, Buy
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Oneok Repurchases $300 Million Of Common Stock
Tuesday, May 17, 2011 - 5:08pm | 118ONEOK, Inc. (NYSE: OKE) today announced that it has entered into a $300 million accelerated share repurchase agreement with Barclays Capital. Under terms of the accelerated repurchase agreement, Barclays Capital borrowed the shares sold to ONEOK and will purchase shares in the open market to...
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South Carolina Electric & Gas Company Announces Debt Offering of $100M
Tuesday, May 17, 2011 - 3:29pm | 123South Carolina Electric & Gas Company principal subsidiary of SCANA Corporation (NYSE: SCG), announced today that it sold, in a negotiated offering, $100 million principal amount of its First Mortgage Bonds, 5.450% Series due February 1, 2041 which are a part of a series of bonds having...
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FirstEnergy Executive Vice Chairman Paul Evanson to Retire
Tuesday, May 17, 2011 - 2:00pm | 111FirstEnergy Corp. (NYSE: FE) today announced that Executive Vice Chairman Paul J. Evanson will retire effective June 1, 2011. Evanson will continue to work with the company on a consulting basis. Prior to FirstEnergy's merger with Allegheny Energy, which was completed in February 2011, Evanson...
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KCP&L Announces Innovative Partnership with Google
Tuesday, May 17, 2011 - 11:47am | 105Great Plains Energy (NYSE: GXP) and Kansas City Power & Light announced today an agreement with Google (NASDAQ: GOOG) and the City of Kansas City, Mo., to bring Google's ultra high-speed fiber optic Internet service to residents and businesses in Kansas City, Mo. KCP&L is the first...
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Options Brief: Consolidated Edison, Inc. (ED)
Tuesday, May 17, 2011 - 10:31am | 90Shares of Consolidated Edison, Inc. (NYSE: ED) are higher on the session by 0.28%, trading at $53.50. Overall call volume is now running at 2.23x the daily average, with 46% of all calls traded being purchases on the offer. 1,242 contracts have traded on the session so far. Consolidated Edison,...
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Options Brief: NRG Energy, Inc. (NRG)
Tuesday, May 17, 2011 - 10:29am | 61Shares of NRG Energy, Inc. (NYSE: NRG) are higher on the session by 0.81%, trading at $24.89. Overall call volume is now running at 7.25x the daily average, with 0% of all calls traded being purchases on the offer. 15,055 contracts have traded on the session so far. NRG Energy, Inc. is a...
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Consumer Now in Question 05-16-2011
Monday, May 16, 2011 - 7:03pm | 953Cusick's Corner Breach! Pressure mounts in Washington as the debt ceiling was breached (bad for the postal pension holders), sending the bond markets to their best levels. Government pension holders will be the backstop at least through the summer. In the commodity world, the floods along the...
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Top Percentage Gainers and Losers as of 2:15pm 5/16/2011 (VITA, SYK, CISG, TISA, ENOC, TSTC, SPMD, KNDI, ABIO, KONG, OXGN, VRML, PSTR, FXCM, ATRN, SYMX, GSL)
Monday, May 16, 2011 - 2:15pm | 627Best 1) Orthovita (NASDAQ: VITA): Trading up 40.1% from Friday's close to $3.82. Orthovita is set to be acquired by Stryker (NYSE: SYK) for $3.85 per share in cash. The deal is valued at $316 million. 2) CNinsure (NASDAQ: CISG): Trading up 30.3% from Friday's close to $17.15. CNinsure received an...
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Puts Purchased on Public Service Enterprise Group (PEG)
Monday, May 16, 2011 - 1:03pm | 130Shares of Public Service Enterprise Group Incorporated (NYSE: PEG) are higher on the session by 0.15%, currently trading at $33.50. The stock has been moving largely higher over the past four weeks and is currently trading above the 50-day and 200-day moving averages. Options traders are buying...
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PPL Susquehanna Announces Unit 1 at Susquehanna Nuclear Plant Shuts Down for Planned Inspection
Monday, May 16, 2011 - 10:44am | 93Operators at the PPL Susquehanna nuclear plant in Luzerne County, near Berwick, Pa., shut down the Unit 1 reactor as planned Monday (5/16) for an inspection of the main turbine. "As a precaution, we have decided to inspect the blades on the Unit 1 turbine after finding defects on similar blades...