In today’s briefing:
- Quiddity Leaderboard ES50 Sep 24: DSM Addition Unlikely; Engie Could Replace Kering (US$1bn+ Flows)
- American Water Works Company: A Bear’s Perspective! – Major Drivers
- CMS Energy Corporation: Growth in Renewable Energy and Infrastructure Investments But Is It Enough? – Major Drivers
- Atmos Energy Corporation: A Tale Of Revenue Stability Through Rate Cases and Spread Management! – Major Drivers
- Avangrid Inc.: These Are The 4 Biggest Challenges In Its Path! – Major Drivers
- Black Hills Corporation: Why Are They Focusing on Hyperscale Data Centers and Blockchain Technology? – Major Drivers
- Brookfield Renewable Corporation: Will Its Investments in Battery Storage Technology Pay Off? – Major Drivers
- CenterPoint Energy: Regulatory Approvals
- Constellation Energy Corporation: Chances Of Future Revenue Streams from Federal Support & Adapting To Market Dynamics! – Major Drivers
- Dominion Energy: How Will They Deal With The Market Volatility in Renewable Energy & Other Challenges? – Major Drivers
Quiddity Leaderboard ES50 Sep 24: DSM Addition Unlikely; Engie Could Replace Kering (US$1bn+ Flows)
- The ES50 Index is one of the most highly-tracked indices in Europe and the annual index review takes place in September every year.
- In this insight, we take a look at Quiddity’s estimation of the latest ranks of potential ADDs and DELs for the upcoming index rebal event in September 2024.
- The rankings will be finalized at the end of this week. Currently, we see one expected ADD/DEL but the expectations can change since there are three more trading days left.
American Water Works Company: A Bear’s Perspective! – Major Drivers
- American Water’s Second Quarter 2024 Earnings Conference Call highlighted a mixed financial performance with several strategic progresses and challenges.
- The company reported a slight decrease in quarterly earnings per share from $1.44 in the previous year to $1.42, maintaining steady performance year-on-year with earnings at $2.37 per share for both the first half of 2024 and 2023.
- Despite this slight dip, the company raised its 2024 earnings per share guidance to $5.25 – $5.30 from the previous range of $5.20 – $5.30, attributing this adjustment to less significant customer usage declines than anticipated.
CMS Energy Corporation: Growth in Renewable Energy and Infrastructure Investments But Is It Enough? – Major Drivers
- CMS Energy, a major energy company based in Michigan, continues to demonstrate resilience and strategic foresight amid regulatory, operational, and market challenges.
- The company’s latest quarterly results indicate a robust execution of its long-standing strategy, combining regulatory maneuvering, aggressive cost management, and substantial investments in system reliability and clean energy transition.
- 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.
Atmos Energy Corporation: A Tale Of Revenue Stability Through Rate Cases and Spread Management! – Major Drivers
- The latest financial performance of Atmos Energy Corporation shows a robust fiscal year, underpinned by significant regulatory outcomes and steady customer growth, evident from the fiscal 2024 third quarter earnings call.
- The company’s performance for the fiscal year up to the third quarter boasted a notable increase in diluted earnings per share, standing at $6 compared to $5.33 in the comparable period from the prior year.
- 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.
Avangrid Inc.: These Are The 4 Biggest Challenges In Its Path! – Major Drivers
- Avangrid’s fourth quarter and full-year 2023 earnings highlighted both the strides and challenges the company faced throughout the year.
- CEO Pedro Azagra Blázquez and CFO Justin Lagasse outlined a strong commitment to clean energy and operational excellence, supported by detailed updates on financial performance, regulatory advancements, and project developments.
- 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.
Black Hills Corporation: Why Are They Focusing on Hyperscale Data Centers and Blockchain Technology? – Major Drivers
- Black Hills Corporation’s Q2 2024 earnings call showcased the company’s strategic execution against a backdrop of both challenges and opportunities.
- The utility company, dedicated to improving life with energy, demonstrated strong adherence to customer-focused strategies, underscored by ongoing capital investments, regulatory progress, and growth ventures, particularly in renewable resources and data centers.
- 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.
Brookfield Renewable Corporation: Will Its Investments in Battery Storage Technology Pay Off? – Major Drivers
- Brookfield Renewable Corp., in its second quarter 2024 earnings, showcased a strong performance with record funds from operations, benefitting significantly from advancement in growth and development initiatives.
- CEO Connor Teskey emphasized the company’s strategic capital deployment amounting to nearly $9 billion in development and M&A activities, reflecting robust capacity additions and execution of strategic acquisitions like Neoen, enhancing Brookfield Renewable’s global reach in renewable energy markets.
- 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.
CenterPoint Energy: Regulatory Approvals
- CenterPoint Energy, during its second quarter of 2024 earnings conference call, presented mixed results along with reaffirmation of its future guidance amidst the challenges posed by Hurricane Beryl.
- The company reported both GAAP and non-GAAP EPS at $0.36 per share and has maintained its full year non-GAAP EPS guidance range of $1.61 to $1.63.
- The company’s leadership emphasized continued growth in the mid- to high-end of their 6% to 8% range annually through 2030 for non-GAAP EPS and dividend per share growth.
Constellation Energy Corporation: Chances Of Future Revenue Streams from Federal Support & Adapting To Market Dynamics! – Major Drivers
- The latest quarterly performance of Constellation Energy Corporation presents a comprehensive view of the company’s current standing and future expectations.
- Revealed during their second quarter earnings call, the company showcased solid achievements across various aspects of its operations, led by President and CEO Joseph Dominguez and CFO Daniel Eggers, alongside their senior management team.
- 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.
Dominion Energy: How Will They Deal With The Market Volatility in Renewable Energy & Other Challenges? – Major Drivers
- In the second quarter earnings for Dominion Energy, the company reported that its operating earnings stood at $0.65 per share, showing a notable improvement due to better-than-normal weather which contributed an additional $0.03 per share.
- This was complemented by gains from regulated investment growth and contributions from Millstone, benefiting from the absence of extended duration outages and higher realized power prices 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.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
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