Public Service Enterprise, Exelon Nuclear Plants Rise From Dead After Winning New Jersey Subsidies
We are reaffirming our $48 per share fair value estimate for Public Service Enterprise Group and $43 per share fair value estimate for Exelon after New Jersey regulators selected the Salem and Hope Creek nuclear plants to receive state subsidies. We are also reaffirming our narrow moat and stable moat trends for both companies.We expect the companies, which share ownership of Salem, to withdraw the deactivation notice they filed with the mid-Atlantic region grid operator, PJM, on April 16. The ...
Public Service Enterprise Group, through its subsidiaries, is engaged in the energy industry. The company conducts its business through two subsidiaries, Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (PSEG Power). PSE&G is a public utility, which is engaged in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey; and PSEG Power is a multi-regional energy supply company that integrates the operations of its merchant nuclear and fossil generating assets with its power marketing businesses and fuel supply functions through energy sales in energy markets primarily in the Northeast and Mid-Atlantic United States.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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