| Description |
|---|
| Shortcomings |
| Company Name | Stock Price 01/29/99 | Annual Dividend | Dividend Yield | 5-Yr. Historical Div. Growth (1) | Ke Using Hist. Div. DCF |
|---|---|---|---|---|---|
| Allegheny Energy | 31.63 | 1.72 | 5.44% | 1.0% | 6.44% |
| BEC Energy | 38.25 | 1.88 | 4.92% | 3.0% | 7.92% |
| Baltimore G&E | 27.25 | 1.68 | 6.17% | 2.5% | 8.67% |
| CMS Energy | 42.81 | 1.32 | 3.08% | 17.5% | 20.58% |
| Carolina P&L | 41.63 | 1.94 | 4.66% | 3.5% | 8.16% |
| Central & S.W. | 26.44 | 1.74 | 6.58% | 3.5% | 10.08% |
| Cen. Hudson G&E | 40.31 | 2.16 | 5.36% | 2.0% | 7.36% |
| Cinergy Corp. | 31.31 | 1.80 | 5.75% | 1.5% | 7.25% |
| Consolidated Ed | 49.44 | 2.12 | 4.29% | 2.0% | 6.29% |
| DPL, Inc. | 18.94 | 0.94 | 4.96% | 4.0% | 8.96% |
| DQE, Inc. | 39.44 | 1.44 | 3.65% | 6.0% | 9.65% |
| DTE Energy | 40.56 | 2.06 | 5.08% | 2.0% | 7.08% |
| Duke Power | 61.81 | 2.20 | 3.56% | 4.5% | 8.06% |
| Edison Intn'l | 27.81 | 1.04 | 3.74% | -6.0% | -2.26% |
| Energy East | 51.19 | 1.60 | 3.13% | -8.0% | -4.87% |
| FPL Group | 54.88 | 2.00 | 3.64% | -5.0% | -1.36% |
| FirstEnergy | 31.06 | 1.5 | 4.83% | -1.0% | 3.83% |
| Fla. Progress | 41.63 | 2.14 | 5.14% | 2.0% | 7.14% |
| GPU, Inc. | 42.63 | 2.06 | 4.83% | 6.0% | 10.83% |
| Hawian Elect. Ind. | 37.44 | 2.48 | 6.62% | 1.5% | 8.12% |
| IPALCO | 49.75 | 1.1 | 2.21% | 1.0% | 3.21% |
| Illinova | 24.438 | 1.24 | 5.07% | 23.5% | 28.57% |
| Interstate Energy | 28.94 | 2.00 | 6.91% | 2.0% | 8.91% |
| Kansas City P&L | 28.31 | 1.66 | 5.86% | 3.0% | 8.86% |
| LGE Energy | 26.38 | 1.23 | 4.66% | 3.5% | 8.16% |
| MidAmerican Energy | 26.81 | 1.20 | 4.48% | -3.5% | 0.98% |
| Minnesota Power | 40.44 | 2.04 | 5.04% | 1.5% | 6.54% |
| Montana Power | 52.5 | 1.6 | 3.05% | 1.5% | 4.55 |
| NIPSCO Ind. | 27.13 | 0.96 | 3.54% | 8.0% | 11.54% |
| New Century Energies | 44.00 | 2.32 | 5.27% | 1.0% | 6.27% |
| New England Elect. | 48.94 | 2.36 | 4.82% | 2.5% | 7.32% |
| Northeast Utilities | 15.31 | 0.00 | 0.00% | -8.5 | -8.50 |
| Northern States Power | 26.94 | 1.43 | 5.31% | 2.5% | 7.81% |
| OGE Energy | 25.31 | 1.33 | 5.25% | 0.5% | 5.75% |
| Orange & Rockland | 56.75 | 2.58 | 4.55% | 1.5% | 6.05% |
| PECO Energy | 38.19 | 1.00 | 2.62% | 5.5% | 8.12% |
| PP&L Resources | 26.69 | 1.00 | 3.75% | 1.5% | 5.25% |
| PacifiCorp | 20.56 | 1.08 | 5.25% | -6.0% | -.75% |
| Potomac Electric Power | 23.31 | 1.66 | 7.12% | 1.5% | 8.62% |
| PS Enterprise Group | 39.56 | 2.16 | 5.46% | 0.5% | 5.96% |
| SCANA Corp. | 27.69 | 1.54 | 5.56% | 2.5% | 8.06% |
| SIGCORP Inc. | 32.63 | 1.21 | 3.71% | 3.0% | 6.71% |
| Southern Co. | 26.94 | 1.34 | 4.97% | 3.0% | 7.97% |
| TECO Energy | 23.25 | 1.24 | 5.33% | 5.5% | 10.83% |
| Texas Utilities | 43.94 | 2.20 | 5.01% | -5.0% | 0.01% |
| Unicom Corp. | 35.63 | 1.60 | 4.49% | -10.5% | -6.01% |
| UtiliCorp | 35.00 | 1.80 | 5.14% | 2.5% | 7.64% |
| WPS Resources | 32.75 | 1.98 | 6.05% | 2.5% | 8.55% |
| Western Resources | 31.44 | 2.14 | 6.81% | 1.5% | 8.31% |
| Wisconsin Energy | 26.00 | 1.56 | 6.00% | 4.0% | 10.00% |
| Avg./ DCF Cost of Equity | N/M | N/M | 4.77% | 1.89% | 6.66% |
(1) Source: Value Line, January, 1999
| Company Name | Stock Price 01/29/1999 | Annual Dividend | Dividend Yield | 5-year Projected (2) EPS Growth | Ke Using Proj. EPS DCF |
|---|---|---|---|---|---|
| Avg./ DCF Cost of Equity | N/M | N/M | 4.77% | 5.36% | 10.16% |
(2) Source: Value Line, January, 1999
| Company Name | Dividend Yield | First Stage Growth | Second Stage Growth | Compound Average Growth | Ke Using 2-Stage DCF |
|---|---|---|---|---|---|
| Avg./ DCF Cost of Equity | 4.77% | 5.36% | 5.02% | 5.11% | 9.88% |
(3) Source: Energy Information Administration Annual Energy Outlook 1998
