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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (34465)	5/13/2009 11:44:28 PM
From: Spekulatius	Read Replies (3) \| Respond to of 78751

PRGN 3.42$, AVA 15.31$, AEP 26.4$ Bought some shares in PRGN - just another shipper trading below tangible book with a reasonable looking balance sheet. I also exchanged AVA (mentioned by Paul here). I have followed that one for a while and decided to sell AEP (dirty power) for AVA (clean power) with an otherwise similar valuation. AVA trades below tangible book, PE is around 10, reasonable balance sheet and they recently raised the dividend. other utilities I am looking at: LNT, POR, IDA. LNT and POR have large investment programs that strain the balance sheet. POR recently had a secondary near the bottom because they need to get some equity in place for a seemingly large wind power project. I doubt that this one will earn the cost of capital but on the other side POR is one of the cheapest regulated utility stocks by many measures.