Progress Energy, Inc. (PGN)
Description: Progress Energy, Inc. (PGN) is a member of the S&P 500 and a member of the Broad Dividend Achievers™ Index. The company is is a diversified energy company that owns two electric utilities serving approximately 3.1 million customers in North Carolina, South Carolina, and Florida.
Quantitative Stock Analysis: Updated: 4-4-2009
PGN-Analysis.PDF
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Comments: Updated: 4-4-2009
Having discontinued the higher risk synthetic fuel business, PGN can now focus on its regulated utilities business in the Carolinas and Florida, which should enjoy above average customer growth and generally supportive regulatory environment. Going forward, the company’s primary focus is on the end-use and wholesale electricity markets in its service region. Risks include unfavorable regulatory rulings and a deeper than anticipated residential decline in Florida.
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