Public Service Enterprise Group's (PEG) future success will be driven by its improving nuclear operations, successful foray into alternative energy sources, the impact of the gas and electric rate settlement, and an ongoing share repurchase program.  Management also sold all of its international assets and diverted the proceeds to reduce debt and capital expansion plans, to focus on growth opportunities in the core U.S. market. The company has also embarked on a $1.6 billion capital expenditures program for new transmission facilities spread over the next five to eight years.However, the rising cost of coal, higher pension and financial costs, the IRS challenging certain leveraged leases and power-price volatility may partially offset the stock's upside potential.Looking ahead over the next six months, we expect the stock to generate moderate positive returns for shareholders driven by the ongoing share repurchase program, cash ...

Hawaiian Electric Industries, Inc. (HE) reported $20.4 million, or $0.22 per diluted share ($0.23 basic), consolidated net income in the 1st quarter of 2009, compared to $34 million, or $0.41 per share (basic and diluted) in the year-ago quarter. Similarly, consolidated revenue of $543.8 million in the reported 1st quarter of 2009 was lower compared with revenue of $729.6 million in the 1st quarter of 2008.Electric utility net income for the 1st quarter of 2009 was $14.1 million compared with $24.6 million in 2008. Lower net income was primarily due to lower electric sales and higher operations and maintenance expenses. Kilowatt-hour sales were down 7.4% in the reported compared with the year-ago quarter, impacting utility net income by an estimated $9 million. Sales were down mainly due to cooler, less humid weather and one less day of sales due to the leap year day in 2008....