Wednesday March 26, 03:49 PM
Dynegy: Highest value in sector
NEW YORK (AP) - As the first quarter draws to a close, Dynegy Inc (NYSE: DYN - news) . has the richest valuation in the utilities sector of the S&P 500 index.
The Houston-based company carries a ratio of stock price to projected future earnings of 34.63. The measure, sometimes called the forward P/E ratio, is often considered an indicator of relative valuation. The S&P 500, according to publisher McGraw-Hill, most recently had a P/E ratio of 19.4.
Of the companies in the group projected to report profits, CMS Energy Corp. has the lowest forward P/E ratio at 11.43.
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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