In today’s briefing:
- IDACORP Inc.: Initiation of Coverage – Resource Procurement & Infrastructure Expansion & 3 Other Major Drivers
- Ormat Technologies Inc.: Initiation of Coverage – Can They Capitalize On The Advancements in Energy Storage Solutions? – Major Drivers
- Alliant Energy Corporation: Initiation of Coverage – What Is Their Core Business Strategy? – Major Drivers
- The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (July 19)
- Edison International: Initiation of Coverage – What Is Their Competitive Advantage In Their Domain? – Major Drivers
- National Grid Plc: Initiation of Coverage
- New Jersey Resources Corporation: Initiation of Coverage – Infrastructure Expansion and Capital Investments Driving Growth! – Major Drivers
- NiSource Inc.: Initiation of Coverage – Renewable Energy Initiatives & Project Investments Catapulting Their Growth? – Major Drivers
- OGE Energy Corp.: Initiation of Coverage – Can They Make The Most Out Of The Advancements in Renewable Energy and Grid Modernization? – Major Drivers
- ONE Gas Inc.: Initiation of Coverage – How Are They Executing The Expansion of Customer Base and Economic Development! – Major Drivers
IDACORP Inc.: Initiation of Coverage – Resource Procurement & Infrastructure Expansion & 3 Other Major Drivers
- IDACORP’s first quarter 2024 performance manifests a mixed financial landscape, characterized by both challenges and strategic advancements in its operational and regulatory domains.
- The company reported a decline in diluted earnings per share from $1.11 in the first quarter of the previous year to $0.95 in the current reporting period.
- This decrease is attributed primarily to milder weather which lowered energy consumption, and heightened operational and maintenance costs driven by increases in wildfire mitigation expenses and labor.
Ormat Technologies Inc.: Initiation of Coverage – Can They Capitalize On The Advancements in Energy Storage Solutions? – Major Drivers
- Ormat Technologies showcased robust results in the first quarter of 2024, reflecting significant financial and operational progress.
- The company, which operates across electricity, product, and energy storage segments, reported a 21% increase in total revenues and a 25.5% rise in earnings per diluted share year-over-year.
- The adjusted EBITDA also increased by 14.4%, fueled by organic growth, efficiency improvements at operational facilities, and contributions from newly acquired assets from Enel Green Power North America.
Alliant Energy Corporation: Initiation of Coverage – What Is Their Core Business Strategy? – Major Drivers
- Alliant Energy has begun 2024 with a balance of strategic advancements and challenges, as outlined in their most recent performance and strategy update.
- The company has made notable progress in expanding its renewable energy capacity, particularly in solar power.
- Their completion of a significant 1.1 gigawatts of solar investment in Wisconsin and advances in Iowa’s solar projects demonstrate a solid commitment to reducing dependency on non-renewable energy sources.
The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (July 19)
- Equity ETF flows in China continued to lead Asia as the “National Team” in China supports market levels during the 3rd Plenum.
- CK Infrastructure Holdings (1038 HK) , Genscript Biotech (1548 HK) and BOC Aviation (2588 HK) saw positive news sentiment and share price movements for the week.
- Jiumaojiu (9922 HK) , Aluminum Corporation Of China (2600 HK) and China Hongqiao (1378 HK) saw negative news sentiment and share price drops for the week.
Edison International: Initiation of Coverage – What Is Their Competitive Advantage In Their Domain? – Major Drivers
- Edison International has demonstrated a solid start to the year in its first quarter 2024 results, showcasing both strengths and areas of cautious consideration.
- The company reported a core EPS of $1.13 and reaffirmed its 2024 core EPS guidance range of $4.70 to $5.05.
- This performance reflects the company’s robust operational strategy and ongoing investments in infrastructure and safety measures, particularly in response to the persistent threat of wildfires in its service areas.
National Grid Plc: Initiation of Coverage
- National Grid PLC recently reported substantial developments in its Full Year Results Presentation, signaling a transformative phase with aggressive capital investment plans, strategic priorities, and updates related to its financial framework.
- This presentation highlighted various aspects, ranging from financial outcomes to operational updates and strategic initiatives aimed at solidifying the company’s role as a predominant player in network energy distribution.
- 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.
New Jersey Resources Corporation: Initiation of Coverage – Infrastructure Expansion and Capital Investments Driving Growth! – Major Drivers
- New Jersey Resources recently disclosed its second-quarter results, affirming the company’s continuing momentum in fiscal 2024.
- Key highlights include net financial earnings (NFE) of $1.41 per share, with a reaffirmed NFEPS guidance range of $2.85 to $3 for the fiscal year.
- This outperformance is primarily due to robust contributions from the Energy Services segment and solid earnings from its core business segments, portraying a strong financial posture.
NiSource Inc.: Initiation of Coverage – Renewable Energy Initiatives & Project Investments Catapulting Their Growth? – Major Drivers
- NiSource, in its Q1 2024 investor update, provided an exhaustive look into their operational and financial dynamics, reinforcing their strategic route toward realizing significant growth through diligent initiatives and regulatory alignments.
- The company marked the period with a robust financial upswing, posting a first-quarter 2024 adjusted earnings per share (EPS) of $0.85— showcasing a 10% rise from the previous year’s $0.77.
- Such fruitful results were buoyed by contributions from regulatory activities and other income sectors while being slightly offset by escalated operations and maintenance (O&M) and depreciation costs.
OGE Energy Corp.: Initiation of Coverage – Can They Make The Most Out Of The Advancements in Renewable Energy and Grid Modernization? – Major Drivers
- OGE Energy Corp. reported solid first-quarter earnings for 2024, affirming its strong positioning and operational reliability despite facing a competitive and dynamic business environment.
- As outlined in the update, the company delivered consolidated earnings of $0.09 per share, encompassing $0.12 per share from OG&E and a holding company loss of $0.03 per share.
- This start to the year aligns well with annual projections, setting a confident tone for the following quarters.
ONE Gas Inc.: Initiation of Coverage – How Are They Executing The Expansion of Customer Base and Economic Development! – Major Drivers
- ONE Gas Inc. reported a solid first quarter of 2024, navigating through economic headwinds, including warm weather conditions, elevated interest rates, and persistent inflationary pressures.
- Notably, the company’s proactive measures to manage operating and maintenance (O&M) expenses and strategic in-house functions have paid off, helping it remain on track to meet the midpoint of its 2024 financial guidance.
- 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.
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