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Petronas and Progress Energy (TSX: PRQ) are hoping for government approval of their tie-up deal, but they will move ahead with LNG exports regardless...

After the government failed to approve Petronas' takeover bid, the company will continue its efforts...

Stock Performance: Progress Energy, Inc. (NYSE:PGN) stock picks dropped by 0.07% and closed at $53.71 whereas traded volume stood at 3.20 million shares for the last closing day as compare to its average volume stood at 1.64 million. The relative strength index stands at 53.94 times. The company (stock picks) stands in profit with the profit margin [...]

Duke and Progress Energy will have to revise the terms of their deal before the FERC will approve.

Duke Energy Corporation (DUK) recently announced a new $6 billion, five-year credit agreement. Duke Energy will have immediate access to $4 billion under the credit agreement while $2 billion becomes available following the successful closing of Duke Energy's proposed merger with Progress Energy Inc. (PGN). The merger is expected to be completed by the end of [...]

Guest contributor Brianna Panzica discusses the motion for a merger between Duke Energy and Progress Energy.

Apple (NASDAQ:AAPL) has leapfrogged over Hewlett-Packard (NYSE:HPQ) to become the largest U.S. seller of portable personal computers last quarter, because of the popularity of its iPad tablet computer that it debuted last year, according NPD Group's DisplaySearch. Apple's 10.2 million portable computer units sold during the fourth quarter accounted [...]

Playboy gets monogamous, Duke Energy powers up, DuPont gets hungry, and more ...

Duke Energy (DUK) and Progress Energy (PGN) today announced a merger agreement that will see the two companies combining to create the largest utility company in the U.S. The new company will be serving roughly 7.1 million electric customers in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio. The market company of the new [...]

Charlotte-NC, based Duke Energy (DUK) has announced a deal to buy Progress Energy Inc (PGN) for $13.7 billion in an all-stock transaction. The combined company to be called Duke Energy Corp would be the largest utility in the U.S. with about 7.1 million customers in the states of Florida, North Carolina, South Carolina, Indiana, Kentucky [...]

Oppenheimer & Co. is reducing its 2011 and 2012 earnings estimates on Progress Energy Inc. (NYSE: PGN). It has a Perform rating, and a $44 price target on shares. In a note to clients, Oppenheimer writes, "We are reducing our FY10-FY12 EPS estimates to $3.05, $3.08 and $3.18, respectively. The two-cent decline in the 2010 estimate is due to higher estimated O&M expenses, a stronger impact from dilution and a slight increase in the expected effective tax rate. We note that management...

Progress Energy (NYSE: PGN) is having 2010 quarterly EPS estimates adjusted by Jefferies & Co. as the company is expected to report stable earnings through 2012. In the report, Jefferies writes "We are adjusting our 2010 quarterly EPS estimates as follows: we are increasing our third-quarter estimate by $0.07 to $1.27 and reducing our fourth-quarter estimate by $0.07 to $0.45. The adjustments primarily reflect the timing of a planned Harris nuclear power plant outage, hotter than normal 3Q...

Electric utility Progress Energy Inc. (PGN) announced robust first quarter 2010 results on May 5, 2010. Earnings were driven by favorable weather conditions and business from its repowered Bartow Plant, partially offset by increased expenses and taxes. Based on steady progress on its strategic plans, the company reiterated its ongoing earnings guidance for 2010 of [...]

Power provider Progress Energy Inc. (PGN) reported first quarter 2010 earnings that were ahead of the Zacks Consensus Estimate and the year-ago results. Earnings were driven by favorable weather conditions and the net impact from the repowered Bartow Plant, partially offset by increased O&M and income tax expense. Progress' earnings per share in the quarter [...]

Piedmont Natural Gas (PNY) and Progress Energy Carolinas, a subsidiary of Progress Energy Inc. (PGN), signed an agreement wherein Piedmont will supply natural gas to PGN’s power generation facility to be built at its existing Sutton site near Wilmington, North Carolina. Piedmont will construct approximately 133 miles of transmission pipeline and install 23,000 horsepower of new [...]

Progress Energy (PGN) is one of the nation's larger pure-play electricity utilities. Given the disappointing outcome of the Florida rate case and lowered 2010 guidance, we expect the stock to remain under pressure in the near term. Furthermore, weak economic conditions in Florida, which have slowed customer growth and reduced demand for electricity, remain worrisome issues. [...]

Progress Energy (PGN) is one of the nation's larger pure-play electricity utilities with solid rate base growth opportunity in the long-term. Given the disappointing outcome of the Florida rate case and a lowered 2010 guidance, we expect the stock to remain under pressure in the near term. Furthermore, the weak economic conditions in Florida, which have [...]

Progress Energy Inc. (PGN) provided 2010 earnings and lowered its 2009 guidance, due to the lingering effects of the economic recession and the recent unfavorable regulatory decision. The company expects 2010 earnings to be in the range of $2.85 to $3.05, which reflects the adjusted retail revenue expectations due to the challenging economy in Florida and [...]

By Tom Dyson Progress Energy is an electric utility from North Carolina... With $9 billion in revenue, 3 million customers, and more than 21,000 megawatts of capacity, Progress Energy is one of the largest electric utilities in the country. Earlier this month, Progress Energy announced it would close 11 coal-fired power plants and revamp these plants to burn natural gas. These 11 plants represent one-third of Progress' total generating capacity in North Carolina. Progress Energy's...

Energy services company Piedmont Natural Gas (PNY) has agreed to provide natural gas delivery service to Progress Energy’s (PGN) recently announced power generation facility to be built at Progress Energy Carolinas' Wayne County, N.C. To provide gas delivery service to the plant Piedmont plans to a construct 38-miles pipeline with compression facilities by Jul 2012. [...]

This article originally appeared on The DIV-Net April 6, 2009. Linked here is a detailed quantitative analysis of Progress Energy, Inc. (PGN). Below are some highlights from the above linked analysis: Company Description: Progress Energy, Inc. is a diversified energy company that owns two electric utilities serving approximately 3.1 million customers in North Carolina, South Carolina, and [...]

Linked here is a detailed quantitative analysis of Progress Energy, Inc. (PGN). Below are some highlights from the above linked analysis: Company Description: Progress Energy, Inc. is a diversified energy company that owns two electric utilities serving approximately 3.1 million customers in North Carolina, South Carolina, and Florida. Fair Value: I consider four calculations of fair value, see page 2 of the linked PDF for a detailed description: Avg. High Yield Price 20-Year DCF...

Comverge just announced a 5 year contract to provide demand response hardware and software to Progress Energy. Progress Energy will use Comverge's products in its EnergyWise energy efficiency program. This is projected to save 170 MW of energy for Progress Energy during its peak energy use periods. Comverge will install in-home energy displays, smart thermostats [...]

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 Share Data: Click here for full page [...]