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Utility Companies Announce Quarterly Results and Investment Agreements - Research Report on Pinnacle West, Pepco, Cemig, SCANA, and Great Plains Energy

NEW YORK, August 21, 2013 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Today, Investors' Reports announced new research reports highlighting Pinnacle West Capital Corporation (NYSE: PNW), Pepco Holdings, Inc. (NYSE: POM), Companhia Energetica de Minas Gerais (NYSE: CIG), SCANA Corporation (NYSE: SCG), and Great Plains Energy Incorporated (NYSE: GXP). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Pinnacle West Capital Corporation Research Report

On August 2, 2013, Pinnacle West Capital Corporation (Pinnacle West) reported Q2 2013 financial results. During the quarter, the Company reported consolidated on-going earnings of $131.2 million, or $1.18 per diluted share of common stock, compared with on-going earnings of $123.1 million, or $1.12 per share, in Q2 2012. "Beneficial weather variations compared with normal patterns were positive contributors to our second-quarter and year-to-date results," said Don Brandt, Chairman, President, and CEO of Pinnacle West. "As a result, we have revised our earnings guidance upward to reflect the weather's impact on our full-year financial projections." The Company now expects on-going earnings of $3.55 to $3.70 per diluted share for full-year FY 2013. The Full Research Report on Pinnacle West Capital Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-13/PNW]

Pepco Holdings, Inc. Research Report

On August 7, 2013, Pepco Holdings, Inc. (Pepco) reported its Q2 2013 financial results. The Company reported GAAP net income from continuing operations of $38 million, or $0.16 per share, compared with $53 million, or $0.23 per share, in Q2 2012. Q2 2013 non-GAAP adjusted net income from continuing operations was $53 million, or $0.22 per share, compared with $46 million, or $0.20 per share, in Q2 2012. The Company noted that the year-on-year increase in adjusted net income was driven by higher electric distribution revenue and lower operation and maintenance expense. Commenting on the results, Joseph M. Rigby, Chairman, President, and CEO of Pepco, said, "While second quarter results were positively impacted by our investments in utility infrastructure aimed at ongoing improvement of system reliability and customer service, recent distribution base rate case outcomes have been disappointing." The Full Research Report on Pepco Holdings, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-13/POM]

Companhia Energetica de Minas Gerais Research Report

On August 8, 2013, Companhia Energetica de Minas Gerais (Cemig) announced that its subsidiary, Cemig GT, has approved signature of an Investment Agreement with Renova Energia S.A. (Renova), RR Participações S.A. (RR), Light Energia S.A. (light Energia), and Chipley SP Participações S.A. (Chipley), governing the entry of Cemig GT into the controlling stockholding block of Renova, through subscription by Cemig GT of new shares to be issued by Renova, and the structuring of Chipley as a vehicle for growth, in which equity interests would be owned by Cemig GT and Renova, with assignment to Chipley of the Agreement for Purchase of Shares in Brasil PCH S.A. The Company reported that the issue price for the shares in Renova has been set at R$16.23 per common share. The Full Research Report on Companhia Energetica de Minas Gerais - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-14/CIG]

SCANA Corporation Research Report

On August 1, 2013, SCANA Corporation (SCANA) reported its Q2 2013 financial results. In Q2 2013, total operating revenues were $1.0 billion, up 11.9% YoY. The Company reported earnings of $85 million, or $0.60 per basic share, higher as compared with $72 million, or $0.55 per basic share, in Q2 2012. Jimmy Addison, Executive Vice President and CFO of SCANA, said, "Year to date, margins were higher driven by electric base rate increases and customer growth, as well as a return to normal weather in Georgia during the first quarter of 2013." The Full Research Report on SCANA Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-14/SCG]

Great Plains Energy Incorporated Research Report

On August 8, 2013, Great Plains Energy Incorporated (Great Plains Energy) reported its Q2 2013 financial results. Q2 2013 operating revenues totaled $600.3 million, down 0.5% YoY. The Company's Q2 2013 earnings amounted to $63.2 million, or $0.41 per share, compared with $57.7 million, or $0.41 per share, in Q2 2012. "We continue to see signs of improvement and believe the economy in our service territory is strengthening," said Terry Bassham, Chairman and CEO of Great Plains Energy. The Full Research Report on Great Plains Energy Incorporated - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-14/GXP]

EDITOR NOTES:

  1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
  2. Information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, we are only human and are prone to making mistakes. If you notice any errors or omissions, please notify us below.
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SOURCE Investors' Reports

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