Table 8
Ratio of Market Value to Book Value of Equity, Market Value of Equity, & Percent Change 1993-1995
Value Line Utilities

 

Market to Book

Market Value

% chng

Utility:

1993

1994

1995

1993

1994

1995

’93-’95

Allegheny Power System Inc

1.56

1.34

1.68

$3,047

$2,762

$3,591

17.8%

American Electric Power Co

1.61

1.42

1.81

6,671

5,993

7,808

17.0%

Atlantic Energy Inc NJ

1.47

1.21

1.12

1,225

1,024

920

-24.9%

Baltimore Gas & Elec Co

1.34

1.22

1.43

3,520

3,314

3,963

12.6%

Black Hills Corp

2.13

1.67

1.91

358

292

344

-4.0%

Boston Edison Co

1.52

1.28

1.26

1,331

1,170

1,293

-2.9%

Carolina Power & Light Co

1.88

1.59

1.97

4,951

4,106

5,191

4.8%

Centerior Energy Corp

1.32

0.85

0.63

2,353

1,591

1,221

-48.1%

Central Hudson Gas & Elec Co

2.01

1.59

1.68

544

459

514

-5.5%

Central Louisiana Elec Inc

1.30

1.05

1.13

561

519

592

5.7%

Central Maine Power Co

1.72

1.53

1.57

631

415

446

-29.3%

Central Vermont Public Svc Corp

1.14

0.85

0.91

264

200

170

-35.5%

Central & South West Corp

1.52

1.17

0.96

5,897

4,853

5,347

-9.3%

CILCORP Inc

1.51

1.25

1.55

516

432

565

9.4%

Cinergy Corp

1.55

1.56

1.84

2,356

3,756

4,650

n/a

CIPSCO Inc

1.70

1.47

1.99

1,076

952

1,294

20.2%

CMS Energy Corp

2.01

1.74

1.87

1,943

1,930

2,685

38.2%

Commonwealth Energy System

1.39

1.18

1.25

468

429

472

0.9%

Consolidated Edison of NY

1.57

1.22

1.35

7,980

6,507

7,435

-6.8%

Delmarva Power & Light Co

1.61

1.36

1.43

1,391

1,206

1,324

-4.8%

Detroit Edison Co

1.49

1.19

1.44

4,926

3,955

4,957

0.6%

Dominion Resources Inc

1.66

1.51

1.46

7,380

6,922

6,915

-6.3%

DPL Inc

2.04

1.90

2.05

2,091

2,139

2,389

14.3%

DQE

1.47

1.27

1.67

1,813

1,624

2,211

21.9%

Duke Power Co

1.90

1.71

2.10

8,225

7,774

10,053

22.2%

Eastern Utilities Assoc

1.53

1.33

1.16

509

488

430

-15.5%

Edison International (SCE)

1.72

1.20

1.20

10,232

7,389

7,674

-25.0%

Empire District Elec Co

1.77

1.42

1.35

298

247

247

-16.9%

Enova Corp (San Diego G&E)

1.96

1.68

 

2,977

2,476

2,593

-12.9%

Entergy Corp

1.28

1.05

0.97

8,359

6,674

6,335

-24.2%

Florida Progress Corp

1.66

1.40

1.57

3,021

2,779

3,278

8.5%

FPL Group Inc

1.77

1.48

1.85

7,270

6,203

8,163

12.3%

General Public Utilities

1.33

1.24

1.26

3,484

3,191

3,735

7.2%

Green Mountain Power Corp

1.57

1.26

1.25

153

128

132

-13.9%

Hawaiian Electric Industries

1.50

1.39

1.45

967

952

1,046

8.1%

Houston Industries Inc

1.84

1.42

1.35

6,036

4,793

5,646

-6.5%

Idaho Power Co

1.69

1.46

1.62

1,118

985

1,066

-4.6%

IES Indusries Inc

1.55

1.26

1.36

887

745

827

-6.8%

Illinova Corp

1.32

1.06

1.39

1,740

1,539

2,135

22.7%

Interstate Power Corp

1.56

1.27

1.48

296

245

293

-1.0%

IPALCO

1.92

1.50

1.76

1,508

1,203

1,452

-3.7%

Kansas City Power & Light Co

1.72

1.50

1.75

1,489

1,316

1,569

5.4%

KU Energy

1.61

1.65

1.73

972

1,017

1,087

11.8%

LG & E Energy Corp

1.74

1.61

1.77

1,272

1,232

1,411

10.9%

Long Island Lighting Co

1.33

0.97

0.86

2,971

2,333

2,111

-29.0%

MDU Resources Inc

1.76

1.67

1.86

560

545

627

12.1%

MidAmerican Energy

1.42

1.23

1.46

967

864

1,782

n/a

Minnesota Power & Light Co

1.84

1.61

1.32

1,038

903

788

-24.0%

Montana Power Co

1.52

1.34

1.22

1,386

1,278

1,187

-14.4%

Nevada Power Co

1.58

1.31

1.32

1,023

958

1,023

-0.1%

New England Electric System

1.70

1.40

1.49

2,609

2,206

2,413

-7.5%

New York State Elec & Gas Corp

1.43

1.04

0.94

2,305

1,727

1,638

-28.9%

Niagara Mohawk Power Corp

1.29

0.96

0.39

3,162

2,352

983

-68.9%

NIPSCO Industries Inc

1.83

1.70

2.05

2,008

1,889

2,279

13.5%

Northeast Utilities

1.43

1.25

1.04

3,170

2,887

2,504

-21.0%

Northern States Power Co MN

1.61

1.51

1.65

2,943

2,871

3,314

12.6%

Northwestern Public Service Co

2.09

1.81

1.75

230

208

266

15.9%

Ohio Edison Co

1.60

1.29

1.37

3,578

2,998

3,273

-8.5%

Oklahoma Gas & Electric Co

1.59

1.46

1.67

1,440

1,346

1,600

11.1%

Orange & Rockland Utilities Inc

1.55

1.25

1.42

582

474

538

-7.6%

Otter Tail Power Co

2.36

2.03

2.31

402

359

426

5.9%

Pacific Gas & Electric Co

1.73

1.41

1.20

14,611

12,133

10,430

-28.6%

Pacificorp

1.62

1.45

1.64

5,297

5,031

5,921

11.8%

PECO Energy Co

1.53

1.38

1.32

6,535

5,939

6,000

-8.2%

Pinnacle West Capital Corp

1.19

0.95

1.29

1,963

1,696

2,453

25.0%

Portland General Corp

1.23

1.09

1.49

931

932

1,299

39.5%

Potomac Electric Power Corp

1.59

1.36

1.61

3,110

2,655

3,004

-3.4%

PPL Resources Inc

1.79

1.45

1.48

4,343

3,568

3,819

-12.1%

Public Service Co of CO

1.55

1.37

1.65

1,841

1,737

2,215

20.3%

Public Service Co of NM

0.89

0.81

1.09

495

514

762

53.9%

Public Service Enterprise Group

1.57

1.29

1.20

8,054

6,852

6,475

-19.6%

Puget Sound Power & Light Co

1.43

1.12

1.37

1,696

1,317

1,588

-6.4%

Rochester Gas & Electric Co

1.37

1.17

1.11

995

872

838

-15.7%

SCANA Corp

1.62

1.55

2.12

2,154

2,190

2,714

26.0%

Sierra Pacific Resources

1.24

1.09

1.39

606

554

735

21.3%

SIG Corp

1.88

1.54

1.65

529

456

523

-1.3%

Southern Co

1.76

1.58

1.81

13,528

12,943

15,723

16.2%

Southwestern Public Service Co

1.88

1.60

1.85

1,295

1,117

1,334

3.0%

St Joseph Light & Power Co

1.75

1.39

1.56

134

108

126

-5.8%

TECO Energy Inc

2.57

2.20

2.48

2,665

2,379

2,854

7.1%

Texas Utilities Co

1.56

1.26

1.59

10,253

8,209

9,034

-11.9%

TNP Enterprises Inc

0.85

0.94

1.09

182

173

246

35.0%

Tucson Electric Power Co

8.33

13.46

39.13

522

563

503

-3.8%

Unicom Corp

1.08

0.98

1.10

5,835

5,316

6,404

9.7%

Union Electric Corp

1.86

1.58

1.74

4,105

3,590

4,089

-0.4%

Unites Illuminating Co

1.46

1.13

1.17

620

485

518

-16.3%

Utilicorp United Inc

1.51

1.40

1.43

1,284

1,271

1,083

-15.6%

Washington Water Power Co

1.60

1.31

1.46

1,013

884

1,049

3.6%

Western Resources Inc

1.47

1.27

1.22

2,086

1,879

1,876

-10.1%

Wisconsin Energy Corp

1.73

1.58

1.69

2,854

2,756

3,109

8.9%

WPL Holdings Inc

1.78

1.53

1.56

652

576

766

17.5%

WPS Resources Corp

1.84

1.60

1.66

798

716

771

-3.5%

 

Notes: Market value in $ millions.