Market Overview

JP Morgan On Electric Utilities


JP Morgan has issued a research report on Electric Utilities for 3Q earnings outlook and estimates.

In the report, JP Morgan writes "We expect electric utility stocks to avoid the inverse performance the stocks saw
versus the S&P 500 earlier this year, when the UTY fell by ~3% while the S&P 500 rose 3.5% through 5/12/2010. Effectively, we believe the group behaved as a contrarian trade versus the broader market. In our view, this was partly fueled by the continued pressure on utility EPS until 2Q10. 2Q10 utility earnings, however, were strong, resulting in positive commentary from companies as well as increased EPS guidance. We expect 3Q10 results to be strong as well, and to support the group into year-end. Accordingly, we do not expect utilities to fall if the S&P rallies, although we acknowledge that utilities are likely to lag any rally in the S&P 500 given the sector offers less EPS growth than many other sectors and trades at a beta of less than 1."

Companies related to this report include:

Ameren Corp. (NYSE: AEE) $29.24
American Electric Power Company (NYSE: AEP) $36.33
CenterPoint Energy (NYSE: CNP) $16.15
Consolidated Edison (NYSE: ED) $49.09
Dominion Resources (NYSE: D) $44.92
Duke Energy Corporation (NYSE: DUK) $17.65
Edison International (NYSE: EIX) $35.97
Entergy Corporation (NYSE: ETR) $77.46
Exelon Corporation (NYSE: EXC) $44.01
NextEra Energy (NYSE: NEE) $55.82
PG&E Corporation (NYSE: PCG) $47.21
Progress Energy (NYSE: PGN) $44.97
The Southern Company (NYSE: SO) $37.95
Wisconsin Energy Corporation (NYSE: WEC) $58.73
Xcel Energy (NYSE: XEL) $23.76


Related Articles (AEE + AEP)

View Comments and Join the Discussion!

Posted-In: ameren american electric centerpoint consolidated edison dominion resources duke energyAnalyst Color Analyst Ratings

Latest Ratings

SOLOAegis CapitalAssumes4.0
TSLAJP MorganMaintains295.0
PFSICredit SuisseMaintains46.0
PMTCredit SuisseMaintains22.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at