But just slightly. I expect some selling after runup. My other utes down slightly.
Expect some added strength if FED is done raising rates.
Long term outlook for electric utes is great; here's why:
* Power shortages evident.
* Even eco-freaks realize opposition to nukes was misguided. Look for resistance to new plants to crumble. (Why is it that libs and naderites want us to be "more like France" but resist nuke plants? French get 75% of electricity from nukes)A new generation of clean energy is at hand.
* Ethanol fuel bogus solution. Read today's WSJ about plug-in hybrids. Very positive for electric utes.
<<Even eco-freaks realize opposition to nukes was misguided.>>
If you ask an eco-freak you will see that they are as opposed as ever to nukes. They still think the way out of our energy problems involves bicycles, Priuses, and windmills. The first new nukes aren't going to be fired up before around 2012-15, and there could be many roadblocks before then, especially if the Democrats take over.
I think you're right about the far left ecofreaks, but I definitely see the center shifting lately. I work in the hydroelectic industry and have seen an amazing shift in general public perception over the past decade. We're also dabbling in the newly evolving ocean energy sector and the public is amazingly willing to consider developing these projects in comparison to other alternative energy sources (conventional hydro, wind, solar, biomass, geothermal, methane...). Maybe because it's not in their backyards?
Now for Nuclear? I see the center shifting to a serious consideration of nuclear here as well especially when the topic of global warming comes up. No free lunch folks - and we're getting used to having to compromise as a nation. We'll just have to find the "right" backyard here to successfully sell nuclear into the future.
IMO this is the ONLY roadblock. The rest is self explanatory.
Do not see a sell off. The stock has held at above a "$29 close" all month and has moved very gradually into $30. If the 2d qtr earnings and projected 3d qtr earnings are equal or better than estimated, the stock has another larger rise ahead.
Additional nuclear plant(s) are a ways off as permitting has not begun. Expect Duke to build new coal gasification plants in the next few years. IMHO