Daily Brief Utilities: Brookfield Infrastructure Partners L.P., American Water Works Co, Entergy Corp, Dominion Energy Inc, Sempra Energy, Xcel Energy Inc, Public Service Enterprise Group Inc, Duke Energy, Centerpoint Energy, DTE Energy Company and more

• Dalrymple Finance report examines financial structure of Brookfield Infrastructure Partners managed by Brookfield Asset Management
• Report raises concerns about fee maximization practices that may not align with interests of limited partners
• Comparison with sister entity launched in 2023 highlights flaws in BIP’s financial policies, suggesting a unsustainable pyramid scheme structure

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• American Water started 2023 with promising financial results, as its earnings per share (EPS) rose from $0.91 to $0.95 compared to the same quarter last year.
• This increase was anticipated, aligning with the company’s forecast and sustaining its full-year earnings guidance.
• Noteworthy contributing factors include the $0.02 per share rise stemming from additional interest income, linked to amendments in the seller note related to the HOS sale.

• Entergy Corporation has shown a mix of achievements and challenges in its First Quarter 2024 results.
• Although the company reported adjusted earnings per share of $1.08, which fell below expectations, its management remains optimistic about meeting annual financial goals citing a solid track record in managing operational expenses.
• Several positive developments were noted, including recognition for customer engagement and the execution of eight electric service agreements with industrial customers.

• Dominion Energy delivered mixed results in the first quarter of 2024, showcasing both resilience and areas needing improvement as it strives to meet its future financial and operational goals.
• The company reported first quarter operating earnings of $0.55 per share, affected by a $0.06 headwind from adverse weather conditions.
• However, the sale of East Ohio Gas Company and various operational management (O&M) timings provided some financial relief.

• Sempra’s first quarter of 2024 results showcases a strong start to the year, affirming its robust financial health and diligent strategic execution across its various segments.
• This report, reflecting on certain financial and strategic developments, delves into both the achievements and the areas of persistent challenge within the company, thereby providing a comprehensive overview for potential investors.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

• Xcel Energy recently held a discussion regarding their first quarter earnings for 2024, where they announced an increased earnings per share compared to the prior year.
• During the quarter, the company experienced various operational challenges and opportunities, extensively detailed in their public statements.
• Xcel Energy continues to emphasize its commitment towards enhancing system resiliency, particularly against wildfire risks, and advancing its clean energy initiatives.

• Public Service Enterprise Group reported its first-quarter earnings for 2024, showcasing results that align closely with its annual fiscal projections.
• The organization aims to maintain its non-GAAP operating earnings guidance of $3.60 to $3.70 per share and anticipates a growth rate between 5% to 7% through 2028.
• This growth is premised on sizable infrastructure and energy efficiency investments designed to support the electrification of various sectors and a move towards reduced greenhouse gas emissions.

• Duke Energy has delivered robust first-quarter 2024 results, underpinned by various strategic implementations and operational efficiencies.
• With a first-quarter adjusted earnings per share of $1.44, the company outperformed its previous year’s results by $0.24.
• This financial improvement is primarily attributed to growth from rate reforms across various jurisdictions, increased retail volumes, and favorable weather conditions.

• CenterPoint Energy has published its first-quarter results for 2024, showing significant resilience and strategic maneuvering despite prevailing challenges.
• The company achieved non-GAAP EPS of $0.55, successfully earning over one-third of its full-year earnings projection at the midpoint.
• This result underscores its projected annual EPS growth of 8%, aligning with its strategic plan to bolster shareholder value consistently.

• DTE Energy presented its first quarter 2024 financial results, showing a robust start to the year.
• The energy company, well-entrenched with a solid foundation, reported operating earnings of $346 million, translating to $1.67 per share.
• Despite facing milder winter weather which affected demand, DTE Energy demonstrated financial resilience.