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New Jersey Resources is an energy services holding company with regulated and nonregulated operations. Its regulated utility, New Jersey Natural Gas, delivers natural gas to nearly 600,000 customers in the state. NJR's nonregulated businesses include investments in commercial solar projects and several large midstream natural gas projects.

PPL is a holding company of regulated utilities in Pennsylvania, Kentucky, and Rhode Island. The Pennsylvania regulated delivery and transmission segment distributes electricity to customers in central and eastern Pennsylvania. In Kentucky, LG&E and KU are involved in regulated electricity generation, transmission, and distribution. LG&E also provides regulated natural gas distribution. Rhode Island Energy operates electric and gas utilities in the state.

Stocks are flat at midday on Thursday. Data on the labor market is coming in mixed. Key inflation data, the Price Consumption Expenditures Index (PCE), is out tomorrow morning. Wall Street is taking in the numbers and factoring in how the Federal Reserve might move on interest rates when the meet next week. Odds remain high for a rate cut. The yield on the 10-year bond is higher on the jobs data, now at 4.10%. Crude oil is at $59 per barrel.

Eversource Energy is largely a pure-play transmission and distribution business. It provides electric service and natural gas to 4.6 million customers (of which 3.4 million are electric customers) in Massachusetts, Connecticut, and New Hampshire. The utility has almost 60,000 circuit miles of transmission lines, of which about 30% are underground. Eversource's core subsidiaries are Connecticut Light & Power, which serves most of Connecticut; Yankee Gas Services Co.; Public Service Co. of New Hampshire, which serves three-quarters of New Hampshire; NSTAR Electric, which serves eastern Massachusetts; NSTAR Gas, which serves customers in Boston and eastern Massachusetts. We note that many residences in Eversource's service region continue to use heating oil to heat their homes, which tightens the utility's demographic growth. Eversource also owns water operations with subsidiary, Aquarion. Total operating revenues in 2024 were $11.9 billion with about 70% earned from Connecticut Light and Power and NSTAR. It is targeting carbon neutrality by 2030, in line with other pure-play transmission utilities. The company's market cap is about $25 billion.