Shares of power-plant operators were flat as investors reconciled themselves to rising Treasury yields. Utilities drew fixed-income investors during the last few months while Treasury yields were on the wane but have rebounded as yields saw their ninth straight increase. Shares of Public Service Enterprise Group rose after analysts at brokerage Morgan Stanley boosted their rating on the New Jersey electricity producer. The company "is a clean, well-run company with a high growth utility (PSE&G) and quality merchant power business (Power)," said the Morgan Stanley analysts, in a note to clients. Further, the analysts said, the shares of the New Jersey utility are underpriced compared with rivals.
Continue Reading Below
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
September 21, 2017 16:57 ET (20:57 GMT)