Stock Market News & Stocks to Watch from StraightStocks » Electricity

Clenergen Corp.’s (CRGE.OB) Management Leads Innovative Push into Renewable Energy

QualityStocks — Wed, 25 Nov 2009 20:22:44 +0000

Clenergen Corp. is approaching the renewable energy/biofuels sector from a unique perspective – an agronomy/ plantation standpoint rather than from a purely technical/engineering standpoint. Clenergen’s goal is produce high-density, short-rotation biomass (non-food) crops to use as feedstock for advanced gasification technologies to produce electricity. The company is led by an outstanding management group. Here is a [...]

Edison Gets Regulatory Approval – Analyst Blog

Zacks Market Commentaries — Wed, 25 Nov 2009 20:17:55 +0000

Edison International (EIX) bagged an approval from the California Public Utilities Commission (CPUC) to construction the Devers Palo Verde2 Transmission Line project in California. The project is being built by its subsidiary Southern California Edison (SCE). The $537 million, 150-mile long transmission line project, once completed, will be able transmit 1.2 GW of electricity from renewable sources to customers in Southern California.

The transmission line will connect SCE’s Devers Substation near Palm Springs to the company’s proposed Midpoint switchyard near Blythe, California. Additionally, SCE will build a 42-mile, 500-kilovolt transmission line between the Devers substation and its Valley substation in Riverside County as part of the project.

The transmission line project will provide the capability to meet generation developers’ request for interconnecting new renewable and conventional generation projects in the solar energy rich areas of Southeastern California. By providing these developers with the means to access markets in California, Arizona and other states in the Western region, the project will support these states’ efforts to meet their respective renewable portfolio targets.

The addition of transmission lines will enhance the distribution network of Edison International. In recent times, the company witnessed 14.7% lower revenue year-over-year to $3.7 billion from $4.3 billion.

Also, to reduce greenhouse gas emission and adhere to California’s renewable portfolio standard utilities operating in California are spending big money. California’s renewable portfolio standard requires utilities to generate 33% of power from renewable sources by fiscal 2020. PG&E Corporation (PCG) plans to invest around $13 billion in 2009 – 2011, while Sempra Energy (SRE) will invest $2.5 billion. Edison International’s subsidiary Southern California Edison is projecting capital expenditures for the period 2009 – 2013 in the range of $16.8 billion to $19.8 billion.

Edison International’s consistent performance through its solid base of stable utility operations, SCE rate hike, ongoing alternative energy projects, balance sheet strength, and a relatively cheap earnings-based valuation, partially offset by a stagnant economy, volatile gas prices, low-hedged power output and coal positions, as well as the recovery of capital expansion costs, support our modestly bullish outlook. Thus we reiterate our Neutral recommendation on the stock.
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PPL Plant Granted License Approval – Analyst Blog

Zacks Market Commentaries — Wed, 25 Nov 2009 18:44:52 +0000

Recently, PPL Corp.’s (PPL) Susquehanna nuclear power plant received a 20-year extension of the operating licenses for both reactors at the plant. The Nuclear Regulatory Commission (NRC) approved extension of the license for Unit 1 to 2042 and for Unit 2 to 2044.

NRC’s decision to extend the licenses is based on thorough safety and environmental reviews of PPL's application submitted in September 2006. NRC’s review process included a series of public meetings, onsite inspections, written requests for extra information from the staff, and an additional review by the Advisory Committee on Reactor Safeguards, which is an independent body of nuclear technical experts that advises the NRC commissioners.

After three years of intensive review, the NRC concluded that no safety or environmental concerns would prevent license renewal and that PPL had effectively demonstrated the ability to manage the effects of aging on plant equipment and systems.

Renewal of the licenses also means PPL Susquehanna will continue to generate well-paying jobs and a high level of community involvement and support.

PPL Corp. is working towards increasing electricity generation at the Susquehanna plant through its four-year project, which began in 2008 and will extend till 2011. The project focuses on improved and cost-effective generation of electricity from existing sources that emit no greenhouse gases. The bi-unit plant produces enough electricity to power about 2 million homes.

The Susquehanna plant, located in Luzerne County about seven miles north of Berwick, is owned jointly by PPL Susquehanna LLC and Allegheny Electric Cooperative Inc. and is operated by PPL Susquehanna.
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First Solar Sells Solar Project – Analyst Blog

Zacks Market Commentaries — Wed, 25 Nov 2009 16:20:11 +0000

First Solar Inc. (FSLR) announced that it would sell the 21 MW solar energy project that it has developed and constructed in Blythe, California, to NRG Energy Inc. (NRG). First Solar will provide operations and maintenance services at Blythe under a long-term contract with NRG Energy. This is second sale by First Solar, recently in October 2009 the company sold a 20 MW solar power project in Ontario to the Canadian oil pipeline company – Enbridge Inc. (ENB).

Located in Riverside County about 200 miles east of Los Angeles, the Blythe project is California's first and largest utility-scale photovoltaic (PV) solar generation facility, and among the largest in North America. Construction on the project began in September 2009 and is expected to be fully completed by year-end fiscal 2009. Once fully completed, the Blythe project when will generate over 45,000 megawatt-hours of electricity annually. The solar generation reduces over 12,000 tons of carbon dioxide emission per year, the equivalent of taking 2,200 cars off the road. The construction of this project has created 175 green jobs.

Electricity from the plant will be sold to Edison International’s (EIX) subsidiary Southern California Edison under a 20-year power purchase agreement. California based utilities such as Edison International is spending big money to reduce greenhouse gas emission and adhere to California’s renewable portfolio standard. First Solar is also developing 1,300 MW of PV solar projects in California and the Southwest.

Based in Phoenix, Arizona, First Solar designs, manufactures and sells solar electric power modules using a proprietary thin film semiconductor technology. The company's solar modules employ a thin layer of cadmium telluride semiconductor material to convert sunlight into electricity. It sells its products to project developers, system integrators and operators of renewable energy projects primarily in Europe with a distinct focus on Germany. First Solar also focuses on designing and deploying commercial solar projects for utilities in the United States.

First Solar enjoys a distinct cost advantage over its peers due its reliance on low cost thin-film cells. However, the advantage is ebbing fast due to falling polysilicon prices. First Solar’s growth potential and that of the solar industry in the aggregate requires a prudent long-term focus on technological enhancements, capacity build-out and cost minimization. Balancing all the three aspects would be an uphill task. Competition in the field is becoming tougher day by day for U.S. solar players such as First Solar, who have missed out on Government doles unlike its Chinese counterparts including Suntech Power Holdings Company Ltd (STP) and ReneSola Ltd (SOL). We maintain our market Neutral recommendation on the shares.
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U.S. Department of Energy Announces $24 Million Smart Grid Stimulus Grant Award to Beacon Power (Nasdaq: BCON)

Dawn Van Zant — Wed, 25 Nov 2009 13:00:00 +0000

TYNGSBORO, Mass - November 25, 2009 - Beacon Power Corporation (Nasdaq: BCON), a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity

South Africa ends recession

Prieur du Plessis — Wed, 25 Nov 2009 09:43:35 +0000

By Cees Bruggemans, Chief Economist FNB After three quarters of negative growth, the South African economy grew by 0.9% annualized during 3Q2009, better than the consensus expectation of +0.5%. Some 55% of economic sectors (by GDP weight) drove the growth, led by manufacturing +7.6%, electricity +4%, construction +6%, government +5%, personal services +1.5% and communication +1% (quarterly [...]

FirstEnergy to Develop Norton – Analyst Blog

Zacks Market Commentaries — Tue, 24 Nov 2009 15:40:27 +0000

FirstEnergy Generation Corp., a subsidiary of FirstEnergy Corporation (FE), has acquired the rights to develop the Norton Energy Storage Project - compressed air energy storage (CAES) facility in Norton, Ohio - from CAES Development Company, LLC. The transaction includes rights to a 600-acre underground cavern, formerly operated as a limestone mine, which is ideal for energy storage technology.

FirstEnergy believes that the compressed-air technology at this site will enable the company to store energy at night, when electricity demand is less, and use it during the day when demand escalates. It is normally observed that many renewable energy sources, like wind, are irregular and do not produce power when there is a high demand. Given the energy storage aspects of this project, the company sees Norton Storage as a key component to its overall renewable energy strategy.

FirstEnergy expects the project to create hundreds of construction jobs and additional green energy jobs. FirstEnergy is evaluating its options related to the project. The initial phase would involve installing two to four units capable of generating a minimum of 268 megawatts (MW) of electricity. With 9.6 million cubic meters of storage, the Norton Energy Storage Project has the potential of expanding to 2,700 MW of capacity.

Currently, there are two commercial-scale compressed air electric generating facilities: a 110 MW plant in McIntosh, Alabama; and a 290 MW facility in Bremen, Germany. While there are other compressed-air projects under development, none is expected to be comparable in size and scope to the Norton facility.

The Norton Energy Storage Project is part of FirstEnergy's overall environmental strategy, which includes continued investment in renewable and low-emitting energy resources. Compressed-air storage, when combined with renewable energy resources, provides for low-emitting power generation which is dispatched when customers need it. FirstEnergy currently has more than 800 MW of renewable capacity, including pumped-storage hydro and wind power. By the end of 2012, once the biomass project at the Burger Plant is complete, the company's renewable capacity is expected to be more than 1,000 MW.
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Zacks Investment Research

GWS Technologies to Distribute the Solaranda(TM) Solar Shade Structure

Stuart T. Smith — Tue, 24 Nov 2009 14:48:54 +0000

Nov. 24, 2009 (Business Wire) — GWS Technologies, Inc. (OTCBB: GWSC) an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, announced today that it would begin distribution of the Solaranda(TM) Solar Shade Structure. “The Solaranda is innovative, creative, and just the solution to give the solar industry a boost,” said [...]

NRG Energy, Inc. (NRG) Acquires California Photovoltaic Solar Project

QualityStocks — Mon, 23 Nov 2009 17:42:03 +0000

Today, NRG Energy, Inc. announced that it has acquired the first and largest utility-scale photovoltaic Blythe Solar Project in California, through its wholly owned subsidiary NRG Solar LLC. The 21 megawatt project will be NRG’s first solar generation facility; NRG acquired the site from First Solar, Inc. (NASDAQ: FSLR). As part of the acquisition, NRG Solar [...]

Solar Energy Initiatives, Inc. (SNRY.OB): Grass Roots Solar

QualityStocks — Mon, 23 Nov 2009 15:13:27 +0000

These days, solar is one of the most popular words in the green lexicon. You hear it everywhere, with most of the talk focusing on the increasingly large solar power plants that are now being built. New designs have dropped the price of large scale solar electricity generation by over 80% in the last 25 [...]

On the Ground in Brazil

Frank Holmes — Mon, 23 Nov 2009 06:00:00 +0000

If seeing is believing, natural resources and infrastructure opportunities abound in Brazil. The above photo was snapped by our global strategist Jack Dzierwa at Satilde;o Paulorsquo;s Guarulhos International Airport as he spent hours trying to board a domestic flight to Rio de Janeiro. Not surprisingly, he didnrsquo;t make the flight. Jack has traveled extensively around the world, and he says hersquo;s never seen anything like the hectic scene at Guarulhos, which just canrsquo;t service the rapidly growing number of Brazilians who can now afford to travel by air. Scenes like this are important for investment managers to experience in order to grasp the significance of whatrsquo;s taking place in emerging countries like Brazil. You just canrsquo;t get the full flavor of the chaos at Guarulhos from an economic data spreadsheet or a research report. Jack traveled to Brazil to collect some insight on the countryrsquo;s infrastructure development and the best prospects for investment. His experience at the airport gives him tacit knowledge and a clear understanding that Brazil will have to expand on its domestic infrastructure. Brian Hicks, who co-manages our Global Resources Fund (PSPFX), has also spent the week in Brazil ndash; he has been doing research and meeting with natural resources companies. Brazil is a key driver for natural resources and infrastructure markets. It is home to 190 million people, many of them moving into the middle class, and itrsquo;s also one of the worldrsquo;s fastest-growing economies. Similar to China, this rise of the middle class will increase demand for oil and other commodities, and its expansion will put growing pressure on the countryrsquo;s inadequate infrastructure. Just a couple of weeks ago, a blackout left nearly 60 million people without electricity and another 7 million without water. Traffic in downtown Satilde;o Paulo is so bad that many businessmen use helicopters as taxis to get around the city. Brazil only has three main international airports, despite that it has 14 cities with at least 1 million residents. The U.S. Energy Information Administration estimates that Brazil has more than 12 billion barrels of proven oil reserves. That number is certain to grow as we learn more about the large discoveries recently made off its southeastern coast. In addition to vast reserves of oil, it is also a leading producer of iron ore, aluminum, platinum and other industrial metals. This natural wealth puts Brazil in an enviable position compared to some other large emerging economies. As the domestic demand for resources increases with infrastructure expansion, much of that demand can be met from internal sources. This benefits the economy on both ends and sets the stage for further economic growth. Please consider carefully a fundrsquo;s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc. All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk. Because the Global Resources Fund concentrates its investments in a specific industry, the fund may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries. #09-818

Mass Megawatt Wind Power, Inc. (MMGW.OB) Licensee Announces $5.8 Million Contract

QualityStocks — Fri, 20 Nov 2009 15:51:05 +0000

Mass Megawatts Wind Power Inc. develops, builds and operates state-of-the-art wind energy power plants. The company has patented technology – Multi-Axis Turbosystem – which is capable of generating electricity at 40% less cost than traditional wind power technologies and is directly competitive with fossil fuel (coal, natural gas) power plants. The company announced today that a [...]

Beacon Power Corp. (BCON) Breaks Ground on 20-Megawatt Flywheel Energy Storage Plant

QualityStocks — Thu, 19 Nov 2009 19:48:56 +0000

Beacon Power Corp. was joined today by state and local officials at a formal groundbreaking event in Stephentown, New York, signaling the start of construction for the nation’s first full-scale 20-megawatt flywheel frequency regulation plant. Initial construction on the plant will start this month, with full construction expected to begin in late first quarter of [...]

Zacks Bull and Bear of the Day Highlights: CPFL Energia, The Medicines Company, Eastman Chemical Co., Dow Chemical Company and Dupont – Press Releases

Zacks Market Commentaries — Thu, 19 Nov 2009 13:38:59 +0000

For Immediate Release

Chicago, IL – November 19, 2009 – Zacks Equity Research highlights CPFL Energia (CPL) as the Bull of the Day and The Medicines Company (MDCO) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Eastman Chemical Co.(EMN), Dow Chemical Company (DOW) and Dupont (DD).

Full analysis of all these stocks is available at http://at.zacks.com/?id=5506

Here is a synopsis of all five stocks:

Bull of the Day:

We are maintaining our Outperform rating on CPFL Energia (CPL). The company posted in-line results for the third quarter of 2009, despite non-recurring items.

The company's outlook for the medium-term remains positive, mainly considering the more relaxed monetary policy in Brazil and the growing demand for electricity, even though there is the still-difficult business environment around the world.

Finally, CPL has a solid dividend payout and its valuation appears to be highly attractive, mainly considering the noncyclical nature of the company.

Bear of the Day:

The Medicines Company’s (MDCO) third-quarter loss per share of 6 cents missed the Zacks Consensus Estimate of a loss of 5 cents. Although Angiomax continues to contribute significantly to revenues, we are concerned about the product losing exclusivity in the U.S. in September 2010.

The entry of generics would be devastating for the company. Therefore, the onus is on management to acquire and develop the next generation of products to drive the top-line. One of those products was expected to be Cangrelor. However, the failure of the phase III CHAMPION program was a significant setback.

Meanwhile, the Cleviprex sales ramp has also been slow. We recommend avoiding the name until we gain more visibility on the Angiomax patent situation, the Cleviprex ramp and the future of Cangrelor and Oritavancin.

Zacks Analyst Blog Highlights: PG&E Corporation, Edison International, Autodesk Inc., Adobe Systems Inc. and Apple Inc. – Press Releases

Zacks Market Commentaries — Thu, 19 Nov 2009 13:28:45 +0000

For Immediate Release

Chicago, IL – November 19, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PG&E Corporation (PCG), Edison International (EIX), Autodesk Inc. (ADSK), Adobe Systems Inc. (ADBE) and Apple Inc. (AAPL).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Wednesday’s Analyst Blog:

California May Ban High-Watt TVs

In California, an average residential customer’s 10% electrical consumption goes to television sets. However the regulatory apprehension is that with upgrade to larger television sets the consumption pattern for television sets will spike by as much as 8% annually. This is a worrisome trend for the power hungry state which has to import around 15% of its requirements from outside the state to meet its huge requirement.

The regulators are dreading a return to the gory days of the California electricity crisis at the beginning of the century. The crisis was aggravated as the then government kept the price of electricity artificially low, encouraging wastage.

An energy-efficient TV would save a household roughly $30 a year per set in lowered electricity costs. If all 35 million television sets in the state were replaced with more efficient sets, Californians would save $8.1 billion over 10 years, according to the Energy Commission report. The standard also could help California meet the goals of its 2006 global warming law, which calls for the state to cut greenhouse gases 25% by 2020.

To reduce greenhouse gas emissions, utilities operating in California are spending big money. California’s renewable portfolio standard requires utilities to generate 33% of power from renewable sources by fiscal 2020. PG&E Corporation (PCG) plans to invest around $13 billion in the period 2009 - 2011. Another utility, Edison International’s (EIX) subsidiary Southern California Edison, is projecting capital expenditures for the period 2009 - 2013 in the range of $16.8 billion - $19.8 billion.

Autodesk Beats, Guidance Mixed

Autodesk Inc. (ADSK) revenues of $416.9 million were down 31.3% year over year, mainly due to a decrease of 43.9% year over year in Licenses revenues and partially due to a 2.8% decrease in Maintenance revenues. However, revenues were flat sequentially.

By geography, revenue from the Americas increased 2% sequentially but decreased 25% from the year-ago period. EMEA revenues declined 3% sequentially and 35% year over year on a constant currency basis. Revenue from the Asia Pacific decreased 7% sequentially and 33% year over year on a constant currency basis. Revenues from emerging economies represented 15% of total revenue and decreased 3% sequentially and 45% year over year on a constant currency basis.

Moreover, revenues from 3D design solutions were down 25% from the year-ago period but were flat sequentially. Revenues from 2D horizontal and vertical products declined 37% year over year and decreased marginally from the last quarter. We are positive on Autodesk’s migration from 2D products to 3D products, which have a higher margin.

Combined revenue from AutoCAD and AutoCAD LT declined 39% year over year. Although the company has a strong market position in the "mainstream" CAD market, it faces competition from Dassault Systemes. Moreover, the company competes against Adobe Systems Inc. (ADBE) and Apple Inc. (AAPL), among others.

Autodesk has a strong balance sheet with cash, investments and securities totaling $1.05 billion at the end of quarter and no long-term debt.

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Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

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Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Zacks Analyst Blog Highlights: Ford, CarMax, AutoNation, Apartment Investors and Equity Residential – Press Releases

Zacks Market Commentaries — Thu, 19 Nov 2009 13:20:18 +0000

For Immediate Release

Chicago, IL – November 19, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ford (F), CarMax (KMX), AutoNation (AN), Apartment Investors (AIV) and Equity Residential (EQR).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Wednesday’s Analyst Blog:

CPI Up on Cars, Energy

The Consumer Price Index (CPI) for October rose by 0.3%, a little bit hotter than the 0.2% that was expected. If one strips out volatile food and energy prices to get the core consumer price index, prices were up 0.2%, also one tick higher than the 0.1% expected.

A rise in energy prices was not unexpected. Heck, one only has to see what the price of crude oil and natural gas have done over the last month or so. For the month, the price of energy rose 1.5% overall. The rise was sharpest among energy commodities, like gasoline and heating oil, which rose by 1.9%. Energy services, like electricity rose a more moderate -- but still steep -- 0.9%.

The rise in core consumer prices was a bit more of a surprise. However, the rising prices were very narrow, with almost all of the increases due to higher prices for cars and trucks, both new and used. For the month, the prices of new cars were up 1.6% while the prices for used cars jumped by 3.4%. That is very good news for Ford (F) as well as indirectly for the U.S. taxpayer, since we are now major stockholders at both General Motors and Chrysler.

The increase for used cars is also beneficial for the car dealers like CarMax (KMX) and AutoNation (AN). The Cash for Clunkers program continues to reverberate through the economy, even though it ended over two months ago. Every car that was turned in under the program was destroyed (at least the engine was, other parts could be stripped and reused). This reduction in supply helped support prices of the remaining used cars. This is the third month in a row of sharply higher prices for used cars, coming on top of a 1.6% increase in September and a 1.9% increase in August. I suspect that this effect is likely to wear off in the near future.

On a year-over-year basis, the overall consumer price index is down 0.2%, while the core consumer price index is up 1.7%, both of which are historically very low. The huge decline in energy prices happened a year ago and is in the process of rolling off. Thus look for the headline consumer price index to start to outpace the core consumer price index in the months to come on a year-over-year basis.

The divergence could become very large. The reason is that a very large part of the index is for Shelter, and the biggest part of that is rent -- both the normal rent that is paid by people who do not own their own houses, and "owners equivalent rent" (OER) or what it would cost you to rent an identical house next door to where you are living now. OER is how the government measures housing prices for inflation; what happens to the actual price of houses is totally irrelevant when it comes to measuring inflation. Thus, measured inflation was very much under control, even as the price of houses were soaring during the housing bubble, and the CPI did not decline as the bubble was bursting.

Together, regular rent paid to landlords and OER make up over 30% of the total consumer price index, and almost 40% of the core consumer price index. The overall price of shelter was unchanged in October, the second month in a row it was unchanged. Regular rent fell by 0.1%, over the last three months it is down at a seasonally adjusted annual rate of 0.7%, and it is unchanged over the last six months.

Since most people own rather than rent where they live, OER has a much higher weight in the index (24.4% of the total index vs. 6.0%). It was unchanged on the month, is off by 0.3% over the last three months and up by just 0.2% over the last six months. However, if the reports from the big housing-oriented REIT’s like Apartment Investors (AIV) and Equity Residential (EQR) are to be believed, then the decline in regular rents is significantly understated.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com

Zacks Investment Research

CPFL Energia (CPL) – Bull of the Day

Zacks Market Commentaries — Thu, 19 Nov 2009 05:00:00 +0000

We are maintaining our Outperform rating on CPFL Energia (CPL). The company posted in-line results for the third quarter of 2009, despite non-recurring items.

Finally, CPL has a solid dividend payout and its valuation appears to be highly attractive, mainly considering the noncyclical nature of the company.Zacks Investment Research

California May Ban High-Watt TVs – Analyst Blog

Zacks Market Commentaries — Wed, 18 Nov 2009 19:25:05 +0000

The California Public Utilities Commission (CPUC) is evaluating a proposal to ban energy-inefficient television sets in the state. The proposal intends to lower electricity demand, and if implemented would be a first in the country. This would stipulate televisions sold in California to be more energy efficient from the inception of fiscal 2011.

The standards would apply to all television sets up to 58 inches. For example, all new 42-inch television sets have to use less than 183 watts by fiscal 2011 and less than 116 watts by fiscal 2013. That's considerably more efficient than current models in the market. A 42-inch Hitachi plasma TV sold in 2007 uses 313 watts while a 42-inch Sharp Liquid-crystal display, or LCD, TV draws 232 watts, according to Energy Commission research.

However, as of now only one-quarter of the television sets on the market meet the required standard. Television sets larger than 58 inches would not be covered by the rule, as those sets account for no more than 3% of the overall market.

In California, an average residential customer’s 10% electrical consumption goes to television sets. However the regulatory apprehension is that with upgrade to larger television sets the consumption pattern for television sets will spike by as much as 8% annually. This is a worrisome trend for the power hungry state which has to import around 15% of its requirements from outside the state to meet its huge requirement.

The regulators are dreading a return to the gory days of the California electricity crisis at the beginning of the century. The crisis was aggravated as the then government kept the price of electricity artificially low, encouraging wastage.

An energy-efficient TV would save a household roughly $30 a year per set in lowered electricity costs. If all 35 million television sets in the state were replaced with more efficient sets, Californians would save $8.1 billion over 10 years, according to the Energy Commission report. The standard also could help California meet the goals of its 2006 global warming law, which calls for the state to cut greenhouse gases 25% by 2020.

To reduce greenhouse gas emissions, utilities operating in California are spending big money. California’s renewable portfolio standard requires utilities to generate 33% of power from renewable sources by fiscal 2020. PG&E Corporation (PCG) plans to invest around $13 billion in the period 2009 - 2011. Another utility, Edison International’s (EIX) subsidiary Southern California Edison, is projecting capital expenditures for the period 2009 - 2013 in the range of $16.8 billion - $19.8 billion.
Read the full analyst report on "PCG"
Read the full analyst report on "EIX"
Zacks Investment Research

CPI Up on Cars, Energy – Analyst Blog

Dirk Van Dijk — Wed, 18 Nov 2009 17:51:24 +0000

The Consumer Price Index (CPI) for October rose by 0.3%, a little bit hotter than the 0.2% that was expected. If one strips out volatile food and energy prices to get the core consumer price index, prices were up 0.2%, also one tick higher than the 0.1% expected.

A rise in energy prices was not unexpected. Heck, one only has to see what the price of crude oil and natural gas have done over the last month or so. For the month, the price of energy rose 1.5% overall. The rise was sharpest among energy commodities, like gasoline and heating oil, which rose by 1.9%. Energy services, like electricity rose a more moderate -- but still steep -- 0.9%.

The rise in core consumer prices was a bit more of a surprise. However, the rising prices were very narrow, with almost all of the increases due to higher prices for cars and trucks, both new and used. For the month, the prices of new cars were up 1.6% while the prices for used cars jumped by 3.4%. That is very good news for Ford (F) as well as indirectly for the U.S. taxpayer, since we are now major stockholders at both General Motors and Chrysler.

The increase for used cars is also beneficial for the car dealers like CarMax (KMX) and AutoNation (AN). The Cash for Clunkers program continues to reverberate through the economy, even though it ended over two months ago. Every car that was turned in under the program was destroyed (at least the engine was, other parts could be stripped and reused). This reduction in supply helped support prices of the remaining used cars. This is the third month in a row of sharply higher prices for used cars, coming on top of a 1.6% increase in September and a 1.9% increase in August. I suspect that this effect is likely to wear off in the near future.

On a year-over-year basis, the overall consumer price index is down 0.2%, while the core consumer price index is up 1.7%, both of which are historically very low. The huge decline in energy prices happened a year ago and is in the process of rolling off. Thus look for the headline consumer price index to start to outpace the core consumer price index in the months to come on a year-over-year basis.

The divergence could become very large. The reason is that a very large part of the index is for Shelter, and the biggest part of that is rent -- both the normal rent that is paid by people who do not own their own houses, and "owners equivalent rent" (OER) or what it would cost you to rent an identical house next door to where you are living now. OER is how the government measures housing prices for inflation; what happens to the actual price of houses is totally irrelevant when it comes to measuring inflation. Thus, measured inflation was very much under control, even as the price of houses were soaring during the housing bubble, and the CPI did not decline as the bubble was bursting.

Together, regular rent paid to landlords and OER make up over 30% of the total consumer price index, and almost 40% of the core consumer price index. The overall price of shelter was unchanged in October, the second month in a row it was unchanged. Regular rent fell by 0.1%, over the last three months it is down at a seasonally adjusted annual rate of 0.7%, and it is unchanged over the last six months.

Since most people own rather than rent where they live, OER has a much higher weight in the index (24.4% of the total index vs. 6.0%). It was unchanged on the month, is off by 0.3% over the last three months and up by just 0.2% over the last six months. However, if the reports from the big housing-oriented REIT’s like Apartment Investors (AIV) and Equity Residential (EQR) are to be believed, then the decline in regular rents is significantly understated.

The data on OER us always suspect, since it is collected by the government -- calling people up on the phone and asking them what they thought it would cost them to rent an equivalent home in their neighborhood. I suspect the vast majority of people really have no idea, since in many neighborhoods very few people rent, and owners are not regularly calling on rental agents to find out what the prices around them are.

The final part of the shelter component is lodging away from home, otherwise known as the price of a hotel room. It rose by 0.4% on the month, but that follows a 1.5% increase last month. Perhaps there is a glimmer of hope for the hotel chains like Marriott (MAR).

Overall, the report suggests that inflation is well under control, especially outside of Energy prices. As the first blue graph shows, we are coming off a very rare instance of actual deflation at the headline level. Even at the core level, the change in prices over the last year is near its lowest point on the graph which goes back to 1983, and I removed the earlier period from the graph since inflation was so high then that one could not make out the more recent trends. This is particularly true if I am right that the effect of Cash for Clunkers on auto prices is going to wear off soon.

This means it is clear sailing for the Fed to keep interest rates low. The problem the economy faces is high unemployment and low levels of production. There is zero danger of the economy overheating and pushing inflation into overdrive anytime soon. Yes, there is a danger that continued easy money could form a bubble in asset prices, but it does not look like we are there yet.

Think of easy money as air being pumped into a tire. When the tire is flat air simply makes the tire usable again; when the tire fills with air, you run the danger of the tire popping from being overinflated. We are nowhere close to the tire popping. (Perhaps the more interesting question is if the tire has a big hole in it, so pumping more air does nothing as it just leaks out.)

Keep in mind that the way up in an asset bubble is a lot of fun, so if that is happening, enjoy it while you can. I think it has a ways to go before it pops. Heck, the tire is still looking pretty flat.

The second green graph presents the same data, but on a continuously compounded annual rate of change basis. It shows a few things of note. The first is that the huge decline in the overall consumer price index happened a year ago as energy prices crashed. That, however, is about to roll off, which should mean that the year-over-year change in the overall CPI should be headed back up in the near future (notice on the top graph that it is already becoming far less negative). Also note that the core consumer price index is very stable from month to month, unlike the headline numbers that can really swing big time, and that it is still on a gradual secular decline path.

While we may be seeing more inflation at the gasoline pump in the near future, in part due to the weak dollar, we are seeing downward price pressures elsewhere in the economy. In other words, there is a change in the relative price level of energy (food prices are being well behaved, rising only 0.1% for the month), not a rise in the general price level. The Fed should not be tightening in response to changes in relative prices, only to changes in the overall price level. For investors, changes in relative prices are very important, and the data suggests that energy stocks are a good place to be parking your money these days.

Read the full analyst report on "F"
Read the full analyst report on "CMX"
Read the full analyst report on "AN"
Read the full analyst report on "AIV"
Read the full analyst report on "EQR"
Read the full analyst report on "MAR"
Zacks Investment Research

SARB keeps rates unchanged

Prieur du Plessis — Wed, 18 Nov 2009 11:16:03 +0000

By Cees Bruggemans, Chief Economist FNB. SARB Governor Marcus today announced no change to interest rates, following a two day meeting of the Monetary Policy Committee. Though there was a tremendous change in presentation style, there was none in policy substance. The Governor presented her MPC team upfront and it was clear that wide-ranging discussions had taken place [...]

NGSX, GRMN, VGPR, DrStockPick.com Watch List! for Tuesday Nov 17, 2009, NeurogesX, Inc., Garmin Ltd. and Vega Promotional Systems Inc., VGPR.PK

Dr. Stock Pick — Tue, 17 Nov 2009 03:09:01 +0000

Dr Stock Pick HOT News & Alerts! _________________________________________ FREE Daily Stock Alerts From DrStockPick.com _________________________________________ DrStockPick.com Watch List! My Picks for Tuesday November 17, 2009 are: ************************************************************** NGSX, NeurogesX, Inc. NGSX is a biopharmaceutical company focused on developing and commercializing novel pain management therapies. ** The U.S. Food and Drug Administration (FDA) has approved NGSX’s Qutenza(TM) (capsaicin) 8% patch, the first and only product [...]

Neah Power Systems, Inc. (NPWZ.OB) Displays Multi Fuel / Oxidant Capability of the Neah Cell

QualityStocks — Mon, 16 Nov 2009 15:57:14 +0000

Neah Power Systems, Inc. today described its unique ability to utilize multiple fuel solutions to power methanol-powered fuel cells. The company’s porous silicon design allows for the use of a variety of oxidants and fuels, including oxygen, hydrogen peroxide, and nitric acid, while the anode loop has been run with several concentrations of methanol and [...]

OGE Energy Re-finances Notes – Analyst Blog

Zacks Market Commentaries — Thu, 12 Nov 2009 21:17:41 +0000

OGE Energy Corp.’s (OGE) midstream pipeline subsidiary, Enogex LLC, sold $250 million of 10-year senior notes with a coupon rate of 6.25%. The company intends to apply the net proceeds from the sale of the new notes for general corporate purposes, including repaying – at maturity – a portion of the $289.2 million outstanding aggregate principal amount of its 8.125% senior notes, which will mature on Jan 15, 2010. Enogex will temporarily use re-financed proceeds to repay borrowings under its credit facility, with any excess proceeds being temporarily invested.

OGE Energy ended the first nine months of fiscal 2009 with $1.9 billion of long-term debt from $2.2 billion at year-end fiscal 2008. On the liquidity front, the company had approximately $2.3 million of cash and cash equivalents, besides $825.9 million of net available liquidity under its revolving credit agreements.

OGE Energy planned capital expenditures of approximately $861 million, $617 million and $567 million in fiscals 2009, 2010 and 2010, respectively. To support this, the company expects to issue between $200 million and $250 million of long term debt in mid-2010. Of this a significant chunk is expected to be refinanced long term notes at cheaper rates.

OGE Energy is a public utility holding company. Its principal subsidiary is Oklahoma Gas and Electric Company, a regulated public utility engaged in the generation, transmission and distribution of electricity to retail and wholesale customers. Its other subsidiary is Enogex Inc. Enogex owns and operates natural gas transmission and gathering pipelines, has interests in several gas processing plants, markets electricity, natural gas and natural gas liquids and invests in the drilling for and production of crude oil and natural gas.
Read the full analyst report on "OGE"
Zacks Investment Research

Public Service Expanding Solar Base – Analyst Blog

Zacks Market Commentaries — Thu, 12 Nov 2009 17:15:15 +0000

Public Service Enterprise (PEG) is expanding its utility solar base. Its subsidiary Public Service Electric and Gas Company (PSE&G) received approval from the New Jersey Board of Public Utilities for an additional $143 million for its ongoing solar loan program. This will help the company finance the installation of an additional 51MW of solar energy systems in homes, businesses and municipal buildings throughout its electric service area New Jersey.

PSE&G is a regulated public utility company primarily engaged in the transmission and distribution of electricity and gas in New Jersey. It serves approximately 2.1 million electricity customers and 1.7 million gas customers in the region.

Since the utility's initial Solar Loan Program was approved by the New Jersey Board of Public Utilities in April 2008, customers have applied for loans totaling $105 million that would result in 30MW of installed solar capacity. In addition to the loan program, PSE&G has begun to implement its Solar 4 All program, investing $515 million in 80MW of solar projects that will help double New Jersey's solar capacity.

The utility is installing solar panels on 200,000 utility poles and street lights in about 300 communities spread across the state of New Jersey. PSE&G will also develop solar gardens and roof-top installations on facilities it owns and at third-party sites.

Public Service Enterprise, based in Newark, New Jersey, is a diversified utility holding company. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the U.S. Public Service Enterprise principally operates through three key subsidiaries: Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (PSEG Power) and PSEG Energy Holdings LLC (PSEG Energy).
Read the full analyst report on "PEG"
Zacks Investment Research

Public Service Expanding Solar Base – Analyst Blog

Zacks Market Commentaries — Thu, 12 Nov 2009 17:15:15 +0000

VIASPACE, Inc. (VSPC.OB) to Deliver Presentation at Next-Generation Biofuels Feedstocks USA Conference

QualityStocks — Thu, 12 Nov 2009 16:16:14 +0000

VIASPACE Inc., a clean energy company growing Giant King(TM) Grass as a renewable, low carbon, energy crop, announced this morning that its Chief Executive, Dr. Carl Kukkonen, will be presenting the company’s Giant King Grass at the Next-Generation Biofuels Feedstocks USA Conference to be held November 16-17, 2009, at Le Meridien Hotel in San Francisco. Contrived [...]

SmallCapSentinel.com: Solar Solutions in Arizona

Stuart T. Smith — Thu, 12 Nov 2009 15:17:32 +0000

LAS VEGAS, Nov. 12, 2009 (GLOBE NEWSWIRE) — News released this week by GWS Technologies, Inc. (OTCBB:GWSC), an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, could mean major advancements in the use of solar power in Arizona. GWS has announced that they are working with Dominion Real Estate [...]

American DG Energy Inc. (ADGE) Reports Small Loss in Third Quarter

QualityStocks — Wed, 11 Nov 2009 21:40:03 +0000

American DG Energy Inc. reported a net loss of $310,000, or $0.01 per share, in the third quarter of 2009. This was just slightly better than the $416,000 net loss reported in the same quarter of 2008. American DG Energy Inc. reported revenues of $2.0 million in the quarter, a sharp increase from the $1.4 [...]

PowerVerde Completes Successful Test of Revolutionary Renewable Electric Power System

Stuart T. Smith — Wed, 11 Nov 2009 21:00:26 +0000

Test Proves System Can Efficiently Run on Solar, Biomass, Geothermalor Waste Heat Nov. 11, 2009 (Business Wire) — PowerVerde, Inc. (OTCBB: PWVI), a leading manufacturer of high performance pressure and gas expansion products, today announced the successful test of its new Organic Rankine Cycle (“ORC”), the PowerVerde 25/50 KW electric power system. The new system, a [...]

Mechel Recovers – Analyst Blog

Zacks Market Commentaries — Wed, 11 Nov 2009 20:43:24 +0000

Mechel OAO (MTL), one of Russia’s leading mining and metallurgical companies, has reported results for its second quarter and first half of 2009.

For the first half of 2009, Mechel reported revenues of $2.4 billion, down 54% from the year-ago period. The company reported net losses of $471.4 million in contrast to net income of $41.1 billion year over year. However, Mechel managed a net income of $219.3 million in the reported quarter after posting losses in the last two quarters. Revenues inched up 8.6% sequentially to $1.3 billion on higher sales volumes. Before this, revenues were impacted by weak demand for steel and coking coal as well as foreign exchange losses.

The Steel segment generated 57% of revenues, which slipped 53.5% year over year to $1.40 billion in the first half of 2009. Unfavorable market conditions and low demand for steel from the end consumer markets – especially auto, construction and machinery − resulted in the decline.

Revenues of $754.7 million in the quarter reflected an improvement of 17.3% from the previous quarter on steel sales volumes picking up slightly. During the first half of 2009, net losses in the Steel segment amounted to $321.5 million against net income of $467.4 million in the same period of 2008. However, Mechel reported a net income of $36.5 million in the quarter against net losses of $467.6 million in the year ago period. Steel production was up 27% to 1.4 billion tons in the quarter while coke output increased 34% to 723 million tons.

In 2009, Mechel foresees demand for steel from the Middle East and Southeast Asia. The company plans to operate facilities at 100% capacity.

By May 2009, Mechel had increased steel-making capacity utilization to 94%, metallurgical commodity products capacity utilization to 95%, including rolled products capacity to about 99%, hardware capacity to about 74%, while forgings and stampings crossed 58%.

The Mining segment generated 27% revenues during the first half of 2009. Sales in the segment plunged 60.5% year-over-year to $674.8 million, driven by a sharp decline in the demand for coking coal. EBIDTA margin of 23.3% more than halved from 51% in the year-ago period driven by higher production costs. In the latest quarter, revenues declined 4% to $330.6 million. Net income was $49.7 million in contrast to a net loss of $65.8 million.

Sequentially, production of coal was down 13% to 3 million tons. Coking coal production was up 19% to 1.2 million tons. Production of steam coal was down 27% year-over-year to 1.76 million tons.

Mechel is banking on Asian markets, particularly, China, Japan and South Korea. In June 2009, Mechel through its subsidiary Mechel Trading AG signed a long-term contract with South Korean Hyundai Steel to supply 300,000 tons of coking coal per annum from 2010. The company has a total supply contract of 2.0 million tons of coking coal and 2.3 million tons of steam coal in 2009 produced at its Yakutugol and Southern Kuzbass mines.

The Power segment produced 10% of revenues, which totaled $256.5 million, down 28.2% from the same quarter of the previous year. Mechel reported a net loss of $4.3 million compared with net income of $7.2 million in the year ago period. The economic crisis resulted in an overall demand for electricity. Moreover, Mechel’s power is expensive as compared to the liberalized electricity in Russia. Quarter on quarter, revenues were down 14.3% to $114.8 million and net losses amounted to $4.6 million.

The Ferroalloy segment yielded 5% of revenues, or $131 million, down 52.9% year over year. Mechel reported a net loss of $202.6 million compared with a net income of $38.9 million. However, revenues increased 43.2% quarter on quarter to $77.2 million. Net income of $126.1 million was driven by higher production costs and lower product prices. Mechel is increasing its output of high quality ferrochrome, an alloy required to produce stainless and special steel.

Mechel has a large capital-spending program. It reported capital expenditures of $223.2 million in the first half of 2009. Total debts were about $6.0 billion in the first half. Higher debts resulting in greater interest burden are a drag on the company’s profitability. Mechel has not provided any financial guidance for the rest of 2009.
Read the full analyst report on "MTL"
Zacks Investment Research

Small Cap Voice Featured Company: U.S. Geothermal Inc. (HTM)

QualityStocks — Wed, 11 Nov 2009 19:00:20 +0000

U.S. Geothermal Inc., a renewable energy company focused on the production of electricity from geothermal energy, owns and operates geothermal power plants at Raft River, Idaho and San Emidio, Nevada, and is developing the Neal Hot Springs project in Oregon. The company strives to create enhanced value for stakeholders while addressing America’s domestic energy needs [...]

Raser Loss Narrows – Analyst Blog

Zacks Market Commentaries — Wed, 11 Nov 2009 16:00:00 +0000

Raser Technologies Inc. (RZ) reported a loss per share of 5 cents, less than the Zacks Consensus loss per share estimate of 13 cents in the third quarter of fiscal 2009. Also, net loss of 5 cents per share is less than half compared to the year-ago loss of 13 cents per share.

The improvement in earnings came despite shares outstanding increasing to 74.9 million in the reported quarter from 57.8 million in the year-ago quarter. The revenue front, the company reported revenue totaling $0.8 million as compared to $0.03 million during the year-ago quarter. The improvement was due to the initiation of a revenue stream from selling electricity generated by its geothermal power plant to the city of Anaheim.

During the reported quarter, the company generated and sold approximately 9,819 MW hours of electricity. Similarly in the reported quarter, cost of sales rose to $2.9 million compared to nil in the year-ago period. The increase in the cost of sales was primarily due to sale of electricity from the geothermal power plant and annual property tax assessments.

Raser’s total operating expenses decreased $2.7 million to $4.0 million year-over-year from $6.7 million. General and administrative expenses remained flat at approximately $2.4 million for the third quarters of both the fiscals 2009 and 2008. Power project development expenses decreased to $1.2 million as compared to $3.2 million in the year-ago period.

Research and development expense decreased from $0.97 million in the year-ago period to $0.37 million. Raser reported cash and cash equivalents of $3.8 million and restricted cash and marketable securities of approximately $16.8 million at the end of the first nine months of fiscal 2009.

At year-end fiscal 2008, the company had $1.5 million in cash and cash equivalents and $27.5 million of restricted cash and marketable securities. The company used $24.7 million of cash in operating activities at the end of the first nine months of fiscal 2009, compared to $10.1 million in cash used at the end of the first nine months of fiscal 2008.

Long term liabilities increased to $79.9 million at the end of the first nine months of fiscal 2009 from $80.1 million at the end of fiscal 2008.
Read the full analyst report on "RZ"
Zacks Investment Research

Conference Call Wednesday November 11, 2009, to Discuss U. S. Geothermal’s 2nd Quarter Results

Stuart T. Smith — Wed, 11 Nov 2009 15:03:12 +0000

BOISE, IDAHO — (Marketwire) — 11/10/09 — U.S. Geothermal Inc. (TSX: GTH)(NYSE Amex: HTM), will host a telephone conference call for investors and analysts on Wednesday, November 11, 2009 at 4:30 a.m. EDT (2:30 p.m. MDT) to discuss the 2nd Quarter Financials, which were filed on November 9, 2009. The conference call may be accessed by [...]

Heavy-Duty Recycling

Robert Amsterdam — Tue, 10 Nov 2009 13:46:19 +0000

War as a means of securing energy resources is a familiar narrative. Peace as a means of securing energy resources is rather less typical . . . The New York Times today has a wonderfully ironic story on how decommissioned...

Energy Blast – Nov 10, 2009

Robert Amsterdam — Tue, 10 Nov 2009 10:15:40 +0000

The US is apparently willing to give Iran more time to decide whether it will accept the UN's recent proposal on uranium enrichment abroad. Bad news for Gazprom - the company's profits fell by 48% in the first six months...

Clenergen Corp. (CRGE.OB) Plans to Have Operations Across the Globe

QualityStocks — Mon, 09 Nov 2009 19:14:15 +0000

Clenergen Corp. is focused on installing, owning and operating small to medium-sized distributed environmental power systems (DEPS) which will sell power to companies, power grids and local municipalities around the world. The company is looking to produce a renewable and sustainable source of electricity through advanced gasification technologies. Clenergen is unique in the biomass energy [...]

Ocean Power Technologies (OPTT) Captures $66.5M Grant to Develop Wave Power

QualityStocks — Mon, 09 Nov 2009 15:49:43 +0000

Ocean Power Technologies (Australasia) Pty Ltd (OPTA), a subsidiary of Ocean Power Technologies, Inc., announced on Friday, November 6, the award of a grant from the Federal Government of Australia (FGA). This grant to OPTA, in partnership with Leighton Contractors Pty Ltd (Leighton), is for $66.46M to build a wave power project off the Australian [...]

CVAT, Independent Research Report – $2.04 Price Target. DrStockPick.com Watch List! for Monday November 9, 2009, Cavitation Technologies Inc., CVAT.OB

Dr. Stock Pick — Sun, 08 Nov 2009 20:02:16 +0000

Dr Stock Pick HOT News & Alerts! _________________________________________ FREE Daily Stock Alerts From DrStockPick.com _________________________________________ DrStockPick.com Watch List! My Big Pick for Monday November 9, 2009 is: ************************************************************** CVAT, Cavitation Technologies Inc., CVAT.OB CVAT is a “Green-Tech” company, established in 2006 to become a world leader in the development of new cutting edge technologies for the, vegetable oil refining, renewable fuel, petroleum, water [...]

OGE Energy Tops Expectations – Analyst Blog

Zacks Market Commentaries — Fri, 06 Nov 2009 22:24:35 +0000

OGE Energy Corp. (OGE) reported third quarter earnings per share (EPS) of $1.40, topping the Zacks Consensus EPS estimate of $1.34. However, EPS in the reported quarter came a dime short, compared to the year-ago EPS of $1.50.

Earnings were boosted in the reported quarter by strong results at Oklahoma Gas and Electric Company (OG&E), offset by cooler weather in the OG&E service territory, lower commodity prices in the Enogex midstream pipeline business and an increase in the number of shares outstanding.

In the reported quarter, OG&E registered earnings of $1.26 per share, compared to $1.15 per share in the year-ago quarter. Enogex recorded earnings of 18 cents per share, compared to 30 cents per share in the year-ago quarter. The holding company, including results from the OGE Energy Resources marketing business, posted a loss of 4 cents per share, compared to earnings of 5 cents per share in the year-ago period.

Revenue fell to $845.3 million in the reported quarter from $1.3 billion in the year-ago quarter due to a tepid economy and a cooler summer affecting demand for electricity. Electric Utility revenues fell to $577.9 million from $682.5 million in the year-ago quarter. Similarly, Natural Gas Pipeline revenues fell to $267.4 million from $571.8 million last year.

OGE Energy Resources reported consolidated gross margin on revenues of $431 million in the reported quarter, compared to $418 million in the year ago quarter. Operating income was $230 million, compared to $231 million in the year ago period.

OG&E reported gross margin on revenues of $342 million, compared to $302 million in the third quarter of 2008. The increase was primarily due to retail rate increases in 2009, partially offset by milder weather. Also affecting OG&E's quarterly results were higher expenses primarily due to increased depreciation expense associated with higher levels of plant in service and higher operation and maintenance expenses, mainly as a result of increased payroll and benefits costs. Net income at OG&E was $123 million in the quarter, compared to $107 million year-over-year.

Enogex reported gross margin on revenues of $93 million in the quarter, compared to $108 million in the comparable quarter last year. The decrease was due primarily to lower commodity prices, partially offset by continued volume growth. Net income at Enogex was $18 million in the third quarter this year, compared with $28 million in the third quarter of 2008.

OGE Energy reaffirmed its full-year consolidated EPS guidance between $2.30 and $2.60. For fiscal 2010, the company expects EPS to be in the range of $2.70 to $2.95.
Read the full analyst report on "OGE"
Zacks Investment Research

Solar Energy Initiatives (SNRY.OB) – Harnessing the Power of the Sun

QualityStocks — Fri, 06 Nov 2009 16:46:49 +0000

Solar Energy Initiatives Inc. is dedicated to reducing the world’s dependence on fossil fuels by selling thermal and photovoltaic (PV) technologies while building a profitable company. To this end, they are developing one of the fastest growing dealer networks in the U.S. to sell and install solar solutions to homeowners as well as commercial customers. The [...]

Small Cap Voice Featured Company: Premier Power Renewable Energy, Inc. (PPRW.OB)

QualityStocks — Fri, 06 Nov 2009 16:28:37 +0000

Premier Power Renewable Energy, Inc. (PPRW.OB) is a leading North American and European provider of solar power systems designed to consistently delivering high quality performance. The company combines technical and financial expertise in a range of deal structures, with transparency and innovation that noticeably surpasses expectations. Premier Power’s primary goal is to build solar energy systems [...]

Clenergen Corp.’s (CRGE.OB) Total Solution for Bio-Energy

QualityStocks — Thu, 05 Nov 2009 19:42:58 +0000

Clenergen Corp. is a developer of clean biomass power generation systems, with its current focus on the nation of India. The company is using a unique approach to use specifically-grown biomass feedstock in order to power its generators. The company has gained access to acreage in India for plantations in which to grow specific plants as [...]

Beware This Tech-Tonic Shift In The Global Technology Sector

Investment U — Thu, 05 Nov 2009 18:47:06 +0000

Beware This Tech-Tonic Shift In The Global Technology Sector by Tony Daltorio, Investment U Research If you’re betting on a recovery in technology stocks based on third quarter earnings reports from companies such as IBM (NYSE: IBM) and Google (Nasdaq: GOOG), you’re not alone. While economists and commentators debate the issue, many [...]

Alternative Energy – Industry Outlook

Zacks Market Commentaries — Wed, 04 Nov 2009 22:00:18 +0000

OUTLOOK

The Alternative Energy industry is going through a recovery after absorbing the global recession and the cascading fall in global crude oil prices. Earlier this year, quite a few alternative energy companies were in the trough. Though these companies have recovered from their lows, their valuations are still significantly lower than their 52-week highs.

The growth of alternative energy companies is closely tied to the fortunes of the economy. In its latest release, the Energy Information Administration (EIA) predicted that total U.S. electricity consumption will decline by 3.3% in 2009 before growing by 1.3% in 2010 as the improving economy coaxes a gradual recovery in electricity sales. In fiscal 2008, annual U.S. photovoltaic (PV) installed capacity grew by 63% year-over-year, bringing the cumulative installed capacity to 792MW.

According to the Solar Energy Industries Association (SEIA) -- the U.S. trade association representing close to 500 companies in the solar energy industry -- Germany ranked first followed by Spain, Japan and U.S. in terms of cumulative installed solar electric power as of year-end fiscal 2008. However in fiscal 2008, Spain (2.46GW in 2008) beat Germany (1.86GW) in terms of new installations. World solar PV installations reached a record high of 5.95GW in 2008, representing growth of 110% over 2007.

According to the European Photovoltaic Industry Association (EPIA) -- the world industry association for solar photovoltaic electricity market -- the cumulative global installed PV capacity stood at almost 15GW, compared to only 9GW in 2007.

OPPORTUNITIES

Environmental Advantage: Solar power is one of the most benign electric generation resources. Solar cells generate electricity without air or water emissions, noise, vibration, habitat impact or waste generation.

Fuel Risk Advantage: Unlike fossil and nuclear fuels, solar energy has no risk of fuel price volatility or delivery risk. Although there is variability in the amount and timing of sunlight in the day, season and year, a properly sized and configured system can be designed to be highly reliable while providing a long-term, fixed-price electric supply.

Locational Advantage: Unlike other renewable resources such as hydroelectric and wind power, solar power is generally located at a customer’s site due to the universal availability of sunlight. As a result, solar power limits the expense and energy losses associated with the transmission and distribution from large-scale electric plants to the end users. For most residential consumers seeking an environment-friendly power alternative, solar power is currently the only viable choice as it can be sourced in urban and rural environments.

Subsidy Programs: Governments, most notably that of China, have increased their financial support for solar projects. China is aiming at increasing its installed solar power capacity to 2GW by 2011 from 140MW capacity at the end of fiscal 2008. To fulfill this objective, the Chinese government offers 50% of the cost of investment of solar power projects. For solar projects in remote areas, the government subsidizes 70% of the project cost. A company under our coverage benefiting from this move includes Solarfun Power Holdings Co. Ltd. (SOLF).

Through the American Reinvestment and Recovery Act (ARRA) passed in February 2009, the U.S. Treasury Department has implemented a program to issue cash grants in lieu of the investment tax credit for renewable energy projects. Recent focus on renewable sources will greatly benefit green crusader companies like Rentech Inc. (RTK). Also, the Department of Energy (DOE) in the U.S. has implemented a loan guarantee program to help developers obtain financing for solar power projects.

WEAKNESSES

Recent Start-ups: A large number of alternative energy companies are recent start-ups with limited resources. As such, quite a few depend on their customers’ ability to finance solar projects.

Global Recession: The global economic crisis has affected alternative energy sales and earnings growth. Weakness in the debt and equity markets, for as long as it lasts, will raise costs of capital for firms in this emerging sector and may hinder project financing, working capital requirements and new research and development.

Fortune Tied to Crude: Alternative energy stock prices generally rise and fall in direct proportion to the price of crude oil. While in times of high oil prices this may present an opportunity, it also increases volatility in the sector.

Excess Capacity: Industry-wide excess solar cell and module capacity have led to stockpiling across the board. As a result, we think the performance of companies such as Evergreen Solar Inc. (ESLR), JA Solar Holdings Co Ltd. (JASO), A-Power Energy Generation System (APWR) and LDK Solar Company Ltd. (LDK) -- burdened as they are with high inventory levels -- will remain under pressure in the near term.

German Roll-back: Germany, one of the prime solar markets with a lucrative subsidy program, is considering a roll-back of its grants. This will affect companies such as First Solar Inc. (FSLR) and SunPower Corporation (SPWRA), who generate a substantial portion of their sales from Germany.Zacks Investment Research

Two Investments to Add to Your “Green” Portfolio

Investment U — Wed, 04 Nov 2009 19:19:59 +0000

Two Investments to Add to Your “Green” Portfolio by Louise Harris, Investment U Research Green investing can be tricky. That was evidenced after oil prices dropped last year and alternative energy companies saw their profits fall just as quickly. Naturally, investor enthusiasm followed, as green ETFs like Claymore/Mac Global Solar Energy Index (NYSE: TAN) [...]

VIASPACE, Inc. (VSPC.OB) – The Fuel Cell Comes Down To Earth

QualityStocks — Wed, 04 Nov 2009 13:36:53 +0000

There was a time when the term “fuel cell” was linked almost exclusively with America’s space program. The fuel cells in space used hydrogen and oxygen to generate electricity for manned spacecraft, with the side benefit of producing drinking water. Few people will forget the near loss of Apollo 13 when a short circuit ignited [...]

Top Utilities Equity Funds – Mutual Fund Commentary

Zacks Market Commentaries — Wed, 04 Nov 2009 06:26:05 +0000

Today, we are featuring top-performing “Utilities" equity mutual funds, which primarily invest in equity securities of utilities, including telecom companies.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Utilities Equity Funds.

3 Powerful Picks

Columbia World Equity Fund A (CGUAX) seeks long-term growth by investing primarily in global equities. It was incepted in October 1991.

The fund invests at least 80% of its net assets in U.S. and foreign equity securities. It invests at least 25% of its total assets in the securities of utility companies. The fund may invest up to 75% of its assets in U.S. and foreign equity securities and investment grade debt securities not issued by utility companies.

Shareholders have to make a minimum initial investment of $2,500 to enter this Zacks#1 Rank (“Strong Buy") fund. It has an expense ratio of 1.40%.

Colin Moore has been lead manager of the fund since September 2004. Before joining Columbia Management, Moore was chief investment officer of global value equities at Putnam Investments.

Gabelli Utilities AAA (GABUX) was incepted in August 1999. The investment seeks to provide a high level of total return through a combination of capital appreciation and current income.

The fund generally invests at least 80% of its net assets in securities of utility companies that provide products, and services to companies involved in the generation of electricity, gas and water, as well as telecom. It is looking to take advantage of trends in regulation and consolidation within the sector.

The fund distributes dividends on a monthly basis and capital gains annually. It has an expense ratio of 1.48%.

Mario J. Gabelli has been lead manager of the fund since August 1999. Gabelli is a Chartered Financial Analyst and has been with GAMCO Investors, Inc. (GAMI) since November 1976.

DWS Communications Fund A (TISHX) seeks to maximize total return through a combination of long-term growth of capital and, to a lesser extent, current income. It was incepted in January 1984.

The fund invests at least 80% of its assets in securities of companies in the communications field. It is one of the oldest mutual funds focusing primarily on telecommunications stocks in selecting investments. This includes both traditional communications companies and companies that engage in new information-based applications The offers dividends quarterly and capital gains annually. As of June 2009, its portfolio turnover was 176%.

Ralf Oberbannscheidt has been lead manager of the fund since 07-Mar-08. Obergannscheidt has been with Deutsche Asset Management in 1999.

Discover Many More Funds

Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.

Zacks Investment Research

Con Edison Beats Ests – Analyst Blog

Zacks Market Commentaries — Tue, 03 Nov 2009 17:35:40 +0000

Consolidated Edison Inc. (ED) announced fiscal third quarter results with EPS of $1.16, which beat both the Zacks Consensus Estimate of $1.04 and the year-ago profit of 98 cents.

New York City-based Consolidated Edison is a diversified utility holding company with subsidiaries engaged in both regulated and unregulated businesses. Consolidated Edison’s regulated businesses operate through two subsidiaries — Consolidated Edison Company of New York (Con Edison of New York) and Orange and Rockland Utilities (O&R).

Con Edison of New York is a regulated utility that provides electricity to roughly 3.3 million customers, natural gas to 1.1 million customers, and steam services to about 1,850 customers, primarily in New York City and Westchester County. O&R serves nearly 400,000 electric and gas customers in southeastern New York State, northern New Jersey, and northeastern Pennsylvania.

Consolidated Edison’s unregulated businesses operate through three subsidiaries: Consolidated Edison Development (engaged in infrastructure development), Consolidated Edison Energy (supplies energy in the wholesale market), and Consolidated Edison Solutions (provides retail energy).

The EPS variations reflect the year-over-year differences, where Con Edison of New York benefited from 49 cents per share as higher rates authorized higher recovery of costs and 5 cents from miscellaneous items. This was partially offset by 18 cents from higher operations and maintenance expense, 20 cents from depreciation and 4 cents from interest expense. The net effect was a 12 cents spike in EPS year over year while Orange and Rockland utilities remained steady. The real variation in EPS year over year came from Competitive Energy businesses where EPS was boosted due to 38 cents from net mark-to-market effects, and 7 cents from higher earnings from continuing operations.

The bottom-line results also reflect the dilutive effect of a higher weighted average number of common shares outstanding of 276 million compared to 273.8 million shares in the prior-year quarter.

On the revenue front, Consolidated Edison witnessed a 9.6% fall year over year to $3.5 billion from $3.9 billion in the year-ago quarter. The downside came from all the segments – electricity, gas, and stream. However non-utility revenues increased to $600 million from $552 million in the year-ago quarter.

Consolidated Edison reported $1.5 billion in cash from operating activities in the reported quarter, from $50 million in the year-ago period. The company reported $75 million of cash and cash equivalents at the end of the reported quarter from $74 million in the year-ago period. Long term debt remained unchanged at slightly above $9.4 billion as compared to $9.2 billion in the year-ago period. Management also reaffirmed the full-year earnings guidance to a range of $3.00 to $3.20 per share. The company’s future growth will be largely dependent on rate increases of its utility subsidiaries. However, on account of uncertain outcome from the pending regulatory cases we maintain our Neutral recommendation on Consolidated Edison.

Read the full analyst report on "ED"
Zacks Investment Research

Duke Endures Low Demand – Analyst Blog

Zacks Market Commentaries — Fri, 30 Oct 2009 20:23:58 +0000

Duke Energy Corporation (DUK) reported its third quarter 2009 earnings of 40 cents per share, compared to the Zacks Consensus Estimate of 38 cents and the year-earlier earnings of 33 cents. Before adjusting for one-time items, the earnings were 8 cents versus year-earlier earnings of 17 cents.

While the company’s results came in above expectations driven by better cost control and operational excellence, a weak economy sapped the demand for electricity and caused lower electricity sales.

The U.S. Franchised Electric and Gas (USFE&G) segment posted third-quarter earnings before interest and tax (EBIT) of $716 million, down more than 1% year over year. This fall in earnings was due to unfavorable weather throughout the service territory, partially offset by reduced operating and maintenance costs.

EBIT for the Commercial Power segment was a loss of $234 million, compared to a loss of $108 million in the third quarter of 2008. This significant negative comparison was mainly due to non-cash impairment charges primarily related to goodwill associated with non-regulated generation operations in the Midwest. Excluding this one-time item, results would have compared favorably year over year.

Duke Energy International (DEI) reported quarterly EBIT of $100 million, up approximately 30% year over year. This favorable comparison was driven by lower commodity costs in Peru and favorable hydrology in Central America, partially offset by lower commodity prices at National Methanol Company and unfavorable average foreign currency exchange rates. At the end of the quarter, long-term debt stood at $15.4 billion with a debt-to-capitalization ratio of 41.5%.

We expect lower load usage to continue to be a challenge in the next year. However, a meaningful earnings growth is expected in the medium to long run based on a North Carolina’s rate increase benefit as well as load growth and price improvements. We are concerned about the company’s returns on capital employed given its capex plans and difficulty it faces to increase volume sales or unit prices.
Read the full analyst report on "DUK"
Zacks Investment Research

FirstEnergy Beats, Cuts Forecasts – Analyst Blog

Zacks Market Commentaries — Thu, 29 Oct 2009 16:00:12 +0000

FirstEnergy Corp. (FE) posted third-quarter adjusted of $1.11 per share, topping the Zacks Consensus Estimate by 9 cents. The better-than-expected results were driven by reduced costs, improved efficiencies and increased share in the generation business. However, earnings in the quarter were below $1.59 reported a year ago, primarily due to a weak economy and mild weather.

Net revenue in the quarter decreased 13% year over year to $3.4 billion, hurt by reduced demand for electricity during the recession.

Total electric distribution deliveries decreased 10%, compared to last year, with residential and commercial deliveries declining 8% and 6%, respectively, mainly due to mild weather. Industrial deliveries slipped 16% on weak economy. Total electric generation sales in the quarter were down 11% year-over-year, with retail sales down 11% and wholesale sales down 10%.

Despite declining consumption, FirstEnergy benefited from its cost reduction efforts during the quarter. Total expenses for the quarter were down $137 million to $2.9 billion, reflecting lower labor and benefit costs, the use of fewer contractors and other cost control measures. The company also profited from higher rates in Ohio.

Given the economic downturn and the uncertainty regarding recovery, FirstEnergy narrowed its full-year earnings guidance to a range of $3.70 to $3.80 per share, from $3.70 to $3.85 previously.
Read the full analyst report on "FE"
Zacks Investment Research

CSRH, EXC, PSFT, DB, PWRM, AVP, AQNM, RF, CVAT, LMT , DrStockPick.com Stock Report!

Dr. Stock Pick — Wed, 28 Oct 2009 19:33:47 +0000

Dr Stock Pick HOT News & Alerts! _________________________________________ FREE Daily Stock Alerts From DrStockPick.com _________________________________________ Wednesday October 28, 2009 DrStockPick.com Stock Report! CSRH, EXC, PSFT, DB, PWRM, AVP, AQNM, RF, CVAT, LMT ************************************************************** EXC, Exelon Corp. EXC, a utility services holding company, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity to residential, commercial, industrial, and wholesale customers in [...]

FPL Group’s Profits Rise – Analyst Blog

Zacks Market Commentaries — Wed, 28 Oct 2009 16:30:28 +0000

Energy company FPL Group Inc. (FPL) today reported adjusted net earnings of $1.38 per share for the third quarter of 2009, in line with the Zacks Consensus Estimate of $1.39 and above $1.25 reported last year. The improvement from last year’s results was due to positive contributions from FPL’s NextEra Energy Resources subsidiary, offset by a decline in customer base at the Florida Power & Light subsidiary.

Total revenue during the quarter declined to $4,473 million from $5,387 million a year ago. Revenue at Florida Power & Light Company declined 3.6% year-over-year to $3,301 million, primarily due to the economic challenges faced at Florida. NextEra Energy Resources’ revenue in the quarter was down 40.7% from last year at $1,136 million, due to unfavorable market conditions for the company’s fossil power plants in Texas and below normal wind resource across the fleet.

At Florida Power & Light Company, the total number of customers continued to decline in the quarter, although at a slower pace. The company had approximately 9,000 fewer customers during the quarter than a year ago, while the number of inactive accounts rose 4,000 from the last quarter. Retail kilowatt-hour sales increased 0.4% over the last quarter, primarily as a result of warmer weather.

Today, the company announced the commissioning of DeSoto Next Generation Solar Energy Center, the largest solar photovoltaic power plant in the country. The 25 megawatt (MW) plant will produce electricity to serve about 3,000 homes, or 20% of DeSoto County. The company expects to have 110 MW of installed solar capacity by late 2010.

NextEra Energy Resources continued to make progress on its wind development program during the quarter. The company has 985 MW of wind projects either completed or under construction and has agreed to acquire an additional 185 MW of existing wind projects. Including the pending acquisition, the company now expects to add 1,170 MW of wind power in 2009.

FPL Group lowered its adjusted earnings guidance given the challenging market environment for the company's Texas merchant assets and the continued economic uncertainty in Florida. It now expects earnings in the range of $4.10-$4.20 per share for 2009, down from a range of $4.20-$4.40 per share previously. For 2010, the company expects earnings of $4.25-$4.85 per share versus the previous range of $4.65-$5.05 per share.
Read the full analyst report on "FPL"
Zacks Investment Research

Evergreen Solar Inc. (ESLR) Opens Berlin-Based Headquarters to Strengthen European Presence

QualityStocks — Mon, 26 Oct 2009 20:25:21 +0000

Evergreen Solar Inc. has emerged as a recognizable figure in the solar power industry. The company develops, manufactures and markets String Ribbon™ solar power products for residential and commercial applications around the world. The solar manufacturer today announced the recent opening of its Europe-based headquarters in Berlin, Germany, which is expected to extend the reach [...]

PSFT, AKAM, PWRM, CSRH, ERTS, CVAT, CVS, AQNM, EXC, DrStockPick.com Stock Report!

Dr. Stock Pick — Fri, 23 Oct 2009 19:44:12 +0000

Dr Stock Pick HOT News & Alerts! _________________________________________ FREE Daily Stock Alerts From DrStockPick.com _________________________________________ Friday October 23, 2009 DrStockPick.com Stock Report! PSFT, AKAM, PWRM, CSRH, ERTS, CVAT, CVS, AQNM, EXC ************************************************************** AKAM, Akamai Technologies Inc. AKAM provides services for accelerating and improving the delivery of content and applications over the Internet. AKAM, the leader in powering video, dynamic transactions and enterprise applications online, announced [...]

VIASPACE, Inc. (VSPC.OB) is “One to Watch”

QualityStocks — Thu, 22 Oct 2009 14:44:13 +0000

VIASPACE is a clean energy company focused on providing products and technology that reduce or eliminate dependence on fossil fuels and other high-pollutant energy sources. Through its subsidiaries, the company provides raw material for cellulosic biofuels; develops and markets fuel cartridges, products and technology for methanol fuel cells; markets rechargeable lithium-ion batteries; and develops security-related [...]

U.S. Geothermal Completes Second Successful Production Well at Neal Hot Springs Project

Stuart T. Smith — Thu, 22 Oct 2009 13:54:18 +0000

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 10/22/09) – U.S. Geothermal Inc. (”U.S. Geothermal”) (TSX:GTH)(AMEX:HTM), a renewable energy company focused on the production and sale of electricity from geothermal energy, announced today that well NHS-5, the second full size production well at the Neal Hot Springs project located in eastern Oregon, was successfully completed on October 15. NHS-5 encountered [...]

FuelCell Energy Inc. (FCEL) Announces California Legislation to Extend Green Energy Incentives through 2015

QualityStocks — Thu, 22 Oct 2009 12:27:42 +0000

FuelCell Energy Inc. is a global leader in the development and production of stationary fuel cells with established partnerships with major power plant developers and power companies around the world. The company recently announced that California Governor Arnold Schwarzenegger signed legislation set to promote continued development and use of alternative energy technologies through 2015; in [...]

BAC, PSFT, PWRM, SO, CSRH, NYX, CVAT, ATVI, AQNM, DrStockPick.com Stock Report!

Dr. Stock Pick — Tue, 20 Oct 2009 18:03:03 +0000

Dr Stock Pick HOT News & Alerts! _________________________________________ FREE Daily Stock Alerts From DrStockPick.com _________________________________________ Tuesday October 20, 2009 DrStockPick.com Stock Report! BAC, PSFT, PWRM, SO, CSRH, NYX, CVAT, ATVI, AQNM ************************************************************** BAC, Bank of America Corporation BAC is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset [...]

Energy Blast – Oct 20, 2009

Robert Amsterdam — Tue, 20 Oct 2009 08:26:10 +0000

'Today's price of around $70 a barrel is increasingly viewed as a new floor for the [oil] industry.' Perhaps the reason why Russia is wary of coordinating production limits with OPEC can be explained by the success achieve by Russian...

Ormat Technologies (ORA) Announces Joint Venture Agreement for Solar Power Systems

QualityStocks — Mon, 19 Oct 2009 15:04:50 +0000

The Nevada Company Ormat Technologies announced that Ormat Subsidiaries Ltd., its Israeli subsidiary, entered into a Joint Venture Agreement (JVA) with Sunday Energy Ltd. Sunday is a private Israeli energy company and the agreement will be to construct and operate solar-photovoltaic energy systems with a total capacity of 36 MW throughout Israel. According to the [...]

Omnicity Corp. (OMCY.OB) Brings the Web to Rural America

QualityStocks — Fri, 16 Oct 2009 17:25:52 +0000

Omnicity Corp. hopes to do with the Internet what was done with electricity in the 1930s. Specifically, they hope to bring all of the benefits and capabilities of the Web to rural areas not currently served with broadband access. The goal is to build a nationwide wireless network that is able to deliver high-speed Internet [...]

Entergy Trims Third Quarter Outlook – Analyst Blog

Zacks Market Commentaries — Fri, 16 Oct 2009 16:15:44 +0000

Entergy Corporation (ETR) earlier today announced that it expects GAAP earnings and operational earnings to be approximately $2.31 per share and $2.39 per share, respectively, in the third quarter of 2009. This is low compared to the year-ago GAAP numbers of $2.41 per share and operational results of $2.50 per share.

The anticipated decrease in the quarter’s operational earnings is due primarily to lower results at the Utility, Parent and Other segment, partially offset by increased earnings at Non-nuclear Wholesale Assets segment. Utility, Parent & Other is expected to clock lower year-over-year operational earnings in third quarter 2009, primarily due to the absence of the 2008 adjustment reducing income tax expense and higher operation and maintenance expense. Entergy's Non-nuclear Wholesale Assets quarterly operational results are expected to improve due to the absence of the 2008 adjustment increasing income tax expense on account of the redemption of an investment.

Entergy however re-affirmed its earnings guidance ranges, with 2009 GAAP earnings guidance to be in the range of $6.00 to $6.60 per share and 2009 operational earnings guidance to be in the range of $6.20 to $6.80 per share.

New Orleans-based Entergy is primarily engaged in electric power production and retail distribution. With 30,000MW of generating capacity, it distributes electricity to 2.6 million customers in Arkansas , Louisiana , Mississippi and Texas . Of this, 14,631MW are gas/oil based, 2,259MW coal based, 70MW hydro based and the rest nuclear based. With around 13,000MW of nuclear-based energy, the company is the second largest nuclear power generator in the U.S. The company also distributes natural gas to 240,000 customers in Louisiana .

Entergy is focusing on its traditional electric utility business with a planned separation of its nuclear business. The company has shown strong resilience during two back-to-back destructive hurricanes in 2008. Going forward, stable earnings from regulated utilities and significant free cash flow available for share repurchases, dividend hikes and/or debt retirement collectively support management’s focus on creating shareholder value. However, higher outages, an expected slide in power prices and pending regulatory approvals in New York and Vermont for the proposed spin-off of its nuclear business are areas of concern. We maintain our Neutral recommendation on the shares.
Read the full analyst report on "ETR"
Zacks Investment Research

Duke Energy Going Green – Analyst Blog

Zacks Market Commentaries — Thu, 15 Oct 2009 17:15:58 +0000

Duke Energy Corporation (DUK) will install four solar panels in North Carolina in the first phase of its $50 million rooftop solar project. The four projects with a combined 4.6MW of annual capacity are expected to be completed by March 2010.

Duke Energy is focusing on green energy in the light of recent progress in the American Clean Energy and Security Act. The act stipulates stringent caps against carbon dioxide emissions. Also North Carolina 's renewable energy standard stipulates each public electric utility to generate a minimum of 12.5% of its North Carolina retail customers' electricity needs through new renewable energy sources or energy efficiency measures by fiscal 2021.

Duke Energy also has 634MW of land-based wind energy in Pennsylvania , Texas and Wyoming , another 99MW under construction and an additional 251MW of wind projects scheduled to begin operations in 2010. According to a report by World Wind Energy Association although wind power produced only about 1.5% of the world's electricity in 2008, its usage doubled between the period 2005 and 2008.

Based in Charlotte , North Carolina , Duke Energy is a diversified energy company. The company is the third largest electric power holding company in the U.S. , based on kilowatt-hour sales. It supplies electricity to approximately 4 million U.S. customers. It has approximately 36,000MW of electricity generating capacity in the Midwest and the Carolinas . We have a Neutral recommendation on the shares of Duke Energy.
Read the full analyst report on "DUK"
Zacks Investment Research

Allegheny Revises Rate Hike – Analyst Blog

Zacks Market Commentaries — Wed, 14 Oct 2009 17:00:00 +0000

Allegheny Energy Inc. (AYE) yesterday scaled down its proposed rate hike in Virginia . Earlier, in April 2009, the company had asked for $22.6 million rate hike, which it has now scaled down by $3.2 million to a $19.4 million. Allegheny has proposed the hike before the Virginia State Corporation Commission to recover its cost of purchased power.

For a residential customer with a monthly consumption of 1,000 kilowatt-hours of power, Allegheny's original proposal would have increased the bill by $5.47 to $96. The scaled-down proposal would result in a monthly bill of $94. Headquartered in Greensburg , Pennsylvania , Allegheny Energy is an electric utility company with over $3 billion in annual revenues.

The company is engaged in both regulated electricity and natural gas distribution utility operations as well as in unregulated wholesale energy markets. It owns and operates generating facilities and serves electricity to approximately 1.6 million customers spread across the states of Pennsylvania , West Virginia , Maryland and Virginia .

Going forward, Allegheny Energy’s positive investment factors include higher generation rates in Pennsylvania and Maryland , higher residential usage and ongoing transmission projects. Looking ahead, we expect that the company’s regulated delivery utility business will provide steady earnings growth while the disposal of retail distribution operations in Virginia will infuse liquidity.

However, the positives would be offset by lower industrial demand and higher emission and hedging costs. We reiterate our Neutral recommendation on the low dividend yield stock, which reflects our view that the stock will trade at par with the peer group of electric utility companies such as AES Corporation (AES) and TECO Energy Inc. (TE).
Read the full analyst report on "AYE"
Read the full analyst report on "AES"
Read the full analyst report on "TE"
Zacks Investment Research

Green Star Analysis Shows 50MW Wind Farm Potential in Veliko Gradiste

Stuart T. Smith — Wed, 14 Oct 2009 16:31:13 +0000

Oct. 14, 2009 (Business Wire) — Green Star Alternative Energy, Inc. (Pink Sheets: GSAE; “GSAE” or the “Company”) (http://www.greenstarae.com) is pleased to announce that an analysis of the Veliko Gradiste zone demonstrates the potential for 50MW of wind energy development. As per the agreement with the municipality, Green Star is exploring the economic viability of [...]

GT Solar International Inc. (SOLR) Finds Successes in Reducing Per/Kilowatt Hour Costs

QualityStocks — Tue, 13 Oct 2009 16:58:25 +0000

Although clean energy was once a rather leading edge concept, it is increasingly becoming a commodity item. How much, when and where are now the real issues to consider. In terms of solar power, kilowatt/hr is the issue. If the cost per kilowatt hour can be reduced, the company that can achieve is the one [...]

Clenergen Corp. (CRGE.OB) Creates Renewable Energy Solutions Using Biomass Advanced Gasification Technologies

QualityStocks — Tue, 13 Oct 2009 16:45:36 +0000

Clenergen Corp., developer of innovative clean energy generation systems, has created a way to produce power, steam, hydrogen, and various other useful products, all through the use of advanced gasification and steam technologies. Instead of dealing with the issue of energy resources – specifically biomass processing – by simply applying engineering principles, Clenergen approaches it [...]

Cemex Protecting Environment – Analyst Blog

Zacks Market Commentaries — Tue, 13 Oct 2009 16:45:16 +0000

Earlier last week, cement maker CEMEX, S.A. de C.V. (CX), was selected by the U.S. Department of Energy (DOE) to develop technology for capturing and storing carbon dioxide emissions at one of Cemex’s U.S. cement plants.

CEMEX will work with RTI International and others to design a dry sorbent Carbon dioxide capture and compression system, a pipeline (if necessary), and an injection station. This commercial-scale Carbon Capture and Sequestration (CCS) demonstration project may remove up to 1 million ton of Carbon dioxide annually.

Only 12 CCS projects from industrial sources, including cement plants, chemical plants, paper mills, refineries, and manufacturing facilities across the United States were selected for the first phase of DOE funding. Cemex USA is the only cement company in America to receive funding for a large-scale industrial CCS project.

The CCS projects are cost-shared collaboration between the government and private industry to increase investment in clean industrial technologies and sequestration projects. The DOE will provide $1.14 million and Cemex USA will provide 20% of the funding for Phase I of its project.

CEMEX’s sustainability commitment includes constantly looking at ways to minimize its energy use and reduce its carbon footprint. In March, the U.S. Environmental Protection Agency (EPA) and the DOE selected CEMEX USA as the 2009 ENERGY STAR Partner of the Year for its outstanding energy management and reductions in greenhouse gas emissions. In 2008 alone, CEMEX decreased its total energy use to an amount which was equal to reducing 115,000 metric tons of Carbon dioxide emissions. This is equivalent to providing electricity to at least 1,500 American homes for a decade or avoiding about 21,000 passenger vehicles’ Carbon dioxide emissions for a year.
Read the full analyst report on "CX"
Zacks Investment Research

URS JV Gets Orders – Analyst Blog

Zacks Market Commentaries — Tue, 13 Oct 2009 16:15:48 +0000

URS Corporation (URS) announced that an alliance between URS and PBS&J has been awarded a contract by the Federal Emergency Management Agency (FEMA) to assist the agency in providing temporary housing and mass care solutions for the survivors of the disaster.

The five-year contract has a maximum value of $375 million for the alliance, in which URS is the managing partner.

The joint venture will be responsible for hauling and installing, the maintenance and deactivation of temporary mobile housing units, as well as the construction of temporary housing communities, as necessary. Additional responsibilities could include providing support for mass care initiatives, such as base camp development, food preparation and distribution and other life support functions as requested by FEMA.

URS Corporation provides engineering, construction, and technical services to the power, infrastructure, Federal, and industrial and commercial market sectors in the United States and internationally. Its services for power sector include the plan, design, engineer, construct, retrofit, and maintain a range of power-generating facilities; and the systems that transmit and distribute electricity, as well as the development and installation of clean air technologies that reduce emissions.

URS Corporation’s services for industrial and commercial sector includes front-end studies, engineering and process design, procurement, construction and construction management, facility management, and operations and maintenance, as well as due diligence, permitting, compliance, environmental management, pollution control, health and safety, waste management, and hazardous waste remediation.

It has a joint venture with Jacobs Engineering Group Inc. to provide general design support and construction management services to the U.S. Army Corps of Engineers. The company was formerly known as Broadview Research Corporation and changed its name to URS Corporation in 1976. URS Corporation was founded in 1904 and is headquartered in San Francisco , California . Major competitors are AECOM Technology Corporation (ACM), Fluor Corporation (FLR) and KBR Inc. (KBR).

We currently have a Neutral recommendation on URS.
Read the full analyst report on "URS"
Read the full analyst report on "FLR"
Read the full analyst report on "KBR"
Read the full analyst report on "ACM"
Zacks Investment Research

Duke’s Coastal Wind Pilot Project – Analyst Blog

Zacks Market Commentaries — Fri, 09 Oct 2009 21:55:11 +0000

Duke Energy Corporation (DUK) recently signed a contract with the University of North Carolina (UNC) at Chapel Hill to place up to three demonstration wind turbines in Pamlico Sound (North Carolina). Duke will pay for the turbines and their installation. The turbines will harness the power of ocean breezes along North Carolina's coast.

Duke Energy’s pilot project is based on a nine-month study completed in June 2009 by the UNC for the North Carolina General Assembly. The pilot turbine installation will facilitate utility-scale wind energy development by enabling studies to optimize measuring and predicting the wind resource, quantifying ecological impacts and demonstrating turbine performance in tropical storm conditions.

Duke Energy has 634MW of land-based wind energy in Pennsylvania, Texas and Wyoming, another 99MW under construction and an additional 251MW of wind projects scheduled to begin operations in 2010. The company is focusing on green energy in the light of recent progress in the American Clean Energy and Security Act. The act stipulates stringent caps against carbon dioxide emissions. According to a report by World Wind Energy Association although wind power produced only about 1.5% of the world's electricity in 2008, its usage doubled between the period 2005 and 2008.

Based in Charlotte, North Carolina , Duke Energy is a diversified energy company. It supplies electricity to approximately 4 million U.S. customers. It has approximately 36,000MW of electricity generating capacity in the Midwest and the Carolinas. We have a Neutral recommendation on the shares of Duke Energy.
Read the full analyst report on "DUK"
Zacks Investment Research

FPL to Open New PV Plant – Analyst Blog

Zacks Market Commentaries — Fri, 09 Oct 2009 19:29:53 +0000

Florida Power & Light Co. (FPL) has announced plans to deliver electricity to customers from the DeSoto Next Generation Solar Energy Center in Arcadia – the largest solar photovoltaic (PV) power plant in the country – by October-end. The plant would use 90,000 photovoltaic panels to convert solar energy into electricity lighting up above 3,000 homes. Earlier, Nevada’s Nellis Solar Power Plant was considered the largest PV plant in the country.

Together with the DeSoto Center the company plans to build two other solar energy centers in Florida – at the Martin County and at NASA’s Kennedy Space Center, with total capacity of the three plants being 110 megawatts by end of 2010. These plants together would make Florida the second largest solar power-producing state in the country.

Large-scale solar projects such as Florida Power’s DeSoto Center creates additional jobs and also increases the revenues of governments, along with reducing the emission of greenhouse gases, preventing the ill-effects of pollution. The DeSoto project created over 400 jobs in Florida for the last 12-months during construction and is to add $2 million of annual tax revenue for the Florida government by the end of the next year.

Solar photovoltaic power provides significant environmental benefits because the facility consumes no fuel, uses no water and produces no waste. For instance, over its life the DeSoto Center will avert the release of more than 575,000 tons of greenhouse gas emissions into the atmosphere, which is equivalent to taking more than 4,500 cars off the road every year, according to the U.S. Environmental Protection Agency. In addition, the electricity generated by this facility will reduce the use of fossil fuels in Florida by more than 277,000 barrels of oil and 7 billion cubic feet of natural gas.

Read the full analyst report on "FPL"
Zacks Investment Research

Quick Ways to Start Saving and Start Investing

Dee Power — Thu, 08 Oct 2009 17:00:17 +0000

Are you waiting until you get a raise, a new job, or some other event to start saving? You shouldn’t. Start saving now so you can start investing in your ...

Raser’s Steady Progress – Analyst Blog

Zacks Market Commentaries — Thu, 08 Oct 2009 16:40:19 +0000

Raser Technologies Inc. (RZ) yesterday provided an update on its geothermal activities and its PHEV project. The company is gradually transiting from a developmental stage company towards a geothermal power producer.

Raser is progressing rapidly on the Lightning Dock No. 1 geothermal project. Recently it bagged final approval from the New Mexico Oil Conservation Division (OCD) for injection of geothermal fluids. The company is also in the process of negotiating a revision to its power purchase agreement (PPA) with the Salt River Project Agricultural Improvement and Power District. The revision is expected to include an increase in the expected output from the Lightning Dock project as well as an increase in the price of energy under the PPA.

Raser is now in the final stages of testing the fifth production well that is needed for the completion of its first geothermal plant Thermo No. 1 as part of its plan to bring the plant to full capacity by the end of fiscal 2009. As of now, only the Thermo No. 1 plant (Hatch plant in Utah) with an annualized capacity of 10MW has been generating revenues since April by selling electricity to the city of Anaheim. The company plans to add 40MW annually to its capacity over the three year period 2010–2012 to bring its total geothermal power generation annualized capacity to 130MW.

Raser, however, is facing financial constraints for its capital projects. The company’s hopes now rest on governmental funding in its quest to become a commercially viable geothermal power producer. Also, Raser has a power purchase agreement with the Southern California Public Power Authority (SCPPA) that would cover the company’s next 110MW capacity expansion. Raser is also in the process of amending its agreements with Merrill Lynch, the tax-equity partner in the Thermo No. 1 plant, and Prudential, the debt holder to avail the benefit of the 30% federal grant for renewable energy projects under the American Recovery and Reinvestment Act of 2009. The company is also making progress at its electric powertrain technology following successful demonstrations of its proprietary H3 Hummer E-REV.

Provo, Utah-based Raser, founded in 2002, functions as a geothermal power development and technology licensing company in the United States. The company operates in two segments – Power Systems, and Transportation and Industrial Technology. The Power Systems segment supplies and develops geothermal electric power generating plants and bottom-cycling operations. The Transportation and Industrial Technology segment focuses on commercializing its Symetron technology to improve the efficiency of electric motors and related components.

Raser currently has seven geothermal power projects under development three each in Nevada, two in Utah, one each in Oregon and New Mexico, respectively. We maintain our market Neutral recommendation on the shares.
Read the full analyst report on "RZ"
Zacks Investment Research

Greetings from Qatar!

Chris Mayer — Thu, 08 Oct 2009 12:04:56 +0000

pQatar is a red-hot economy. Last year it grew around 18% and this year it ought to grow another 16%. We saw the headlines in the emGulf Times/em in the lounge while waiting for our transfer to Dubai./p pstrongQatar’s greatest asset is its natural gas reserves./strong In fact, the largest gas field in the world is here. Its discoverers were disappointed when they found it in 1971. They were looking for oil./p pThe boom Qatar now enjoys is the result of some daring investments in liquefied natural gas (LNG) back when people thought doing such a thing was a little batty. Faisal Al Suwaidi, the head of a href="http://www.google.com/finance?q=Qatargas"Qatargas/a, deserves the props for his wager, which have paid off handsomely. Today, Qatar produces about one-quarter#8230;/p

Progress to Replace Coal Units – Analyst Blog

Zacks Market Commentaries — Wed, 07 Oct 2009 20:17:22 +0000

On Oct 1, 2009, the North California Utilities Commission (NCUC) approved Progress Energy Carolinas' plan to build new a natural gas-fueled power generation plant in Wayne County. The commission approved a certificate of public convenience and necessity for Progress Energy Carolinas' proposed 950-megawatt (MW) combined-cycle power plant, with a projected investment of about $900 million.

Raleigh, North Carolina-based Progress Energy Inc. (PGN) is engaged in both regulated electric operations (in southeastern US) and unregulated businesses, which include competitive power generation, energy marketing and trading, natural gas exploration and production, and synthetic coal production.

Progress plans to build the Wayne County plant near the HF Lee coal-fired facility located on the Neuse River in Wayne County near Goldsboro. Once the new plant becomes functional in 2013, the company plans to retire the three coal units at Lee, which entered service in 1950s and 1960s.

The natural gas-fueled plant is expected to create around 500 construction jobs over the 24-month building process, which is expected to start in 2011. The company also plans to improve gas supply in the region with the construction of a natural gas pipeline to the Wayne County site.

The new plant is expected to produce approximately 550 MW of additional electricity, while reducing overall emissions including carbon dioxide, nitrogen oxides, sulfur dioxide and mercury. The additional generating capacity may be used to meet the demands of a growing customer service area, cater to evolving environmental requirements and provide for additional resource flexibility.

The Lee plant has been a vital part of Progress’ resource for about 60 years. Replacing the plant with new, advanced-design, cleaner-burning plants will help ensure dependable, affordable power for its 1.5 million customers and for future generations. The company plans to file for a state air permit in the coming months.

Read the full analyst report on "PGN"
Zacks Investment Research

Variable winds shaping 2010

Prieur du Plessis — Wed, 07 Oct 2009 09:20:57 +0000

By Cees Bruggemans, Chief Economist FNB Evidence continues mounting that our economy has turned the corner in tandem with most overseas countries, if at a slower speed. Our stock market has marched closely in lockstep with global markets, reaching its cyclical low last November, and revisiting this level last March, after which a 40% rise followed (less [...]

AYE Wins Regulatory Approval – Analyst Blog

Zacks Market Commentaries — Tue, 06 Oct 2009 18:20:01 +0000

Allegheny Energy Inc. (AYE) has recently bagged an approval from the West Virginia Public Service Commission to sell $105 million in bonds. The proceeds will be utilized to finance its ongoing gas scrubber project on-going scrubber project (flue gas de-sulfurization) at its 1,107MW coal-fired Fort Martin Power Station near Morgantown , West Virginia . In July 2009, Allegheny Energy, requested to raise approximately $105 million through environmental control bonds with a term of up to 10 years.

Earlier in January 2007, Allegheny Energy received the commission’s approval to gather $450 million of the total estimated cost of $550 million for the scrubber project through securitized financing.

Allegheny Energy plans to repay the bonds by adjusting the current Environmental Control Charge from West Virginia customers. As per company estimates, this would raise the average bill for a customer with a monthly consumption of 1,000 kilowatt-hours of electricity by 76 cents, or less than 1%.

Headquartered in Greensburg , Pennsylvania , Allegheny Energy is an electric utility company with over $3 billion in annual revenues. The company is engaged in both regulated electricity and natural gas distribution utility operations as well as in the unregulated wholesale energy markets. It owns and operates generating facilities and serves electricity to approximately 1.6 million customers spread across the states of Pennsylvania, West Virginia, Maryland and Virginia. We reiterate our Neutral recommendation on the shares.
Read the full analyst report on "AYE"
Zacks Investment Research

Raser’s Transition to Geothermal – Analyst Blog

Zacks Market Commentaries — Fri, 02 Oct 2009 15:29:27 +0000

Raser Technologies Inc. (RZ) is gradually transiting from a developmental stage company towards a geothermal power producer. As of now, only its first geothermal plant Thermo No. 1 Plant (Hatch Plant in Utah) with an annualized capacity of 10MW is generating revenues by selling electricity to the city of Anaheim since April 2009. The company plans to add 40MW annually to its capacity over the three year period 2010 – 2012 to bring its total geothermal power generation annualized capacity to 130MW.

Raser Technologies, however, is facing financial constraints. Earlier this month, Raser’s loan guarantee application was denied by the Department of Energy (DOE). If approved, DOE would have provided 80% of the approximately $190 million project cost for Raser’s 42MW – East Thermo geothermal project. The company’s hopes now rest on governmental funding in its quest to become a commercially viable geothermal power producer. Also, Raser has a power purchase agreement with the Southern California Public Power Authority (SCPPA) that would cover the company’s next 110MW capacity expansion.

Provo, Utah based Raser Technologies, founded in 2002, functions as a geothermal power development and technology licensing company in the United States. The company operates in two segments – Power Systems, and Transportation and Industrial Technology. The Hatch geothermal power plant was awarded “Plant of the Year" by POWER Magazine in May 2009.

Geothermal power projects under development include seven projects of which three are in Nevada, two in Utah, and one each in Oregon and New Mexico. We maintain our market Neutral recommendation on the shares.
Read the full analyst report on "RZ"
Zacks Investment Research

Cautious SARB feeling its way forward

Prieur du Plessis — Thu, 01 Oct 2009 21:12:53 +0000

By Cees Bruggemans, Chief Economist FNB Are we really fighting inflation? There are times when understanding inflation is easy. Big demands are placed on all resources, shortages arise, profit margins can be inflated, cost and price increases easily passed on, in a spiraling kind of way. Expectations of accelerating price increases (faster inflation) become embedded and feed the [...]

Top Utilities Equity Funds – Mutual Fund Commentary

Alex Kolb — Thu, 01 Oct 2009 06:59:12 +0000

Today we are featuring top-performing “Utilities" Equity mutual funds, which primarily invest in equity securities of utilities, including telephone or cable-television firms.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Utilities Equity Funds.

3 Electrifying Picks

Van Kampen Utility A (VKUAX) seeks to provide its shareholders with capital appreciation and current income. It may focus on securities that it believes offer capital appreciation and current income at a reasonable risk.

The fund may invest in income securities which include preferred stock and debt securities, including convertible securities, of various maturities which are considered "investment-grade" quality at the time of investment. At the end of March, its portfolio turnover was 120%.

The fund’s top holdings include Exelon Corp. (EXC - Snapshot Report), FPL Group (FPL - Snapshot Report) and Southern Co. (SO - Snapshot Report).

Flex-funds Total Return Utilities (FLRUX) was incepted in June 1995. The investment seeks total returns.

The fund generally invests at least 80% of net assets in securities of domestic or foreign utility companies that provide electricity, natural gas, water, telecommunications or sanitary services to the public. It may also invest in debt securities of public utility firms.

Lowell Glaser Miller has been lead manager at the fund since its inception. The fund distributes dividends monthly and capital gains annually.

Putnam Global Utilities A (PUGIX) seeks capital growth and current income. The fund invests mainly in midsized and large firms but can invest in companies of any size.

The fund uses fundamental research and disciplined quantitative analysis with macroeconomic views to choose a combination of stocks and bonds of companies in the utilities industries that have favorable investment potential.

Shareholders have to make a minimum initial investment of $500 to enter this Zacks#1 Rank (“Strong Buy") fund. It has an expense ratio of 0.59%.

Discover Many More Funds

Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our new mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.

Zacks Investment Research

COV, PWRM, MSFT, CSRH, NKE, CVAT, ABT, DrStockPick.com Stock Report!

Dr. Stock Pick — Wed, 30 Sep 2009 18:36:27 +0000

Dr Stock Pick HOT News & Alerts! _________________________________________ FREE Daily Stock Alerts From DrStockPick.com _________________________________________ Wednesday September 30, 2009 DrStockPick.com Stock Report! COV, PWRM, MSFT, CSRH, NKE, CVAT, ABT ************************************************************** COV, Covidien plc COV engages in the development, manufacture, and sale of healthcare products for use in clinical and home settings worldwide. The company operates through four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products, [...]

Dominion’s “Appalachian Gateway” – Analyst Blog

Zacks Market Commentaries — Wed, 30 Sep 2009 17:00:00 +0000

Dominion Resources, Inc. (D) has asked the Federal Energy Regulatory Commission (FERC) to start pre-filing process for its Appalachian Gateway Project. The proposed project will transport natural gas produced in West Virginia and southwest Pennsylvania to storage fields and pipelines in Pennsylvania.

The Appalachian Gateway project will cost around $600 million. Dominion expects to start construction work in 2011 and commence commercial operation in 2012. The project is fully subscribed by Marcellus Shale and other Appalachian natural gas producers. The total firm transportation delivery is estimated to be nearly 484,260 dekatherms of natural gas per day.

Dominion will build four new natural gas compressor stations and upgrade two existing compressor stations, which will add about 17,000 horsepower of compression capacity. Around 110 miles of new pipeline will be constructed under the project, which will start at West Virginia and end at Dominion and Spectra's jointly owned Oakford facility in Delmont, Pennsylvania.

Virginia-based Dominion is a leading provider of electricity, natural gas and related services to customers in the energy-intensive Midwest, Mid-Atlantic and Northeast regions of the U.S. The company has the potential to drive bottom-line growth in the near term, attributable to deregulated generation fleet benefiting from higher realized energy price.

However, Dominion shares currently reflects a valuation commensurate with its earnings growth profile, lower business risks after the sale of the E&P businesses and changes in the Virginia regulatory framework. Hence, we maintain our Neutral recommendation on the shares of Dominion.
Read the full analyst report on "D"
Zacks Investment Research

DrStockPick.com Stock Report! 9/30/09, SALN, CCNI, ZHNE, ADPT, TRR, AEP

Dr. Stock Pick — Wed, 30 Sep 2009 13:09:02 +0000

Dr Stock Pick HOT News & Alerts! _______________________________________ FREE Daily Stock Alerts From DrStockPick.com _______________________________________ Wednesday September 30, 2009 DrStockPick.com Stock Report! ************************************************************** Salon City, Inc. (PINKSHEETS: SALN) announced today that 3rd quarter sales resulting from new media offerings and August’s launch of Beauty Entertainment (BE!) Magazine has helped to contribute to the Company’s overall revenue increases as compared to [...]

Allegheny Increases Credit Facility – Analyst Blog

Zacks Market Commentaries — Tue, 29 Sep 2009 20:58:28 +0000

Allegheny Energy, Inc. (AYE) recently announced that its unregulated power generation subsidiary Allegheny Energy Supply Company, LLC (AE Supply) bagged a new $1 billion senior unsecured revolving credit facility with a three-year maturity. Allegheny plans to use the money from the new credit facility for general corporate purposes and capital expenditure for its unregulated plants.

The new credit facility will increase and replace AE Supply’s existing $400 million revolving credit facility, which was scheduled to mature in May 2011. The withdrawals under this credit facility will bear interest that is calculated based on the London Interbank Offered Rate (LIBOR) along with a margin based on AE Supply’s senior unsecured credit rating. As of now the margin on LIBOR-based loans is 3.5%.

Allegheny is focused on strengthening its liquidity position and improve its financial flexibility by reducing interest burden. The company in recent times has concentrated on refinancing debt with lower interest rates.

AE Supply’s proactive role in debt reduction has already reduced the interest burden of the Generation & Marketing segment by $2.8 million and $9.9 million year-over-year for the three and six months ended June 30, 2009, respectively. This was due to lower average debt outstanding at lower interest rates under AE Supply’s credit facility and increased capitalized interest resulting from capital projects that were partially funded by cash from operations.

Headquartered in Greensburg, PA, Allegheny Energy is an electric utility company with over $3 billion in annual revenues. The company is engaged in both regulated electricity and natural gas distribution utility operations as well as in the unregulated wholesale energy markets. It owns and operates generating facilities and serves electricity to approximately 1.6 million customers spread across the states of Pennsylvania, West Virginia, Maryland and Virginia.

Going forward, Allegheny Energy’s positive investment factors include higher generation rates in Pennsylvania and Maryland, higher residential usage and ongoing transmission projects. We expect that the company’s regulated delivery utility business will provide steady earnings growth while the disposal of retail distribution operations in Virginia will infuse liquidity. However, the positives would be offset by lower industrial demand and higher emission and hedging costs.

We reiterate our Neutral recommendation on the low dividend yield stock which reflects our view that the stock will trade at-par with the peer group of electric utility companies like AES Corporation (AES) and TECO Energy Inc. (TE).
Read the full analyst report on "AYE"
Read the full analyst report on "AES"
Read the full analyst report on "TE"
Zacks Investment Research

Entergy Spin-Off Delayed – Analyst Blog

Zacks Market Commentaries — Mon, 28 Sep 2009 18:49:11 +0000

Entergy Corp.’s (ETR) proposed spin-off of its Non-utility Nuclear power business has been relegated to fiscal 2010.

Recently, the New York Public Service Commission’s two administrative law judges in a ruling stated their apprehension regarding the new company having the financial viability to operate three units located in the state of New York. Of this, two units are located in the Indian Point Energy Center in Westchester County and a reactor at the James A. Fitzpatrick station in Oswego County.

The New York Public Service Commission expressed its apprehension that the $3.5 billion worth of long-term unsecured bonds that Entergy plans to issue for the spin-off will drag down the bond rating of the new company, affecting its financial capacity. The Commission has also relegated its next hearing to December 2009 followed by a final decision on the spin-off in January 2010.

Entergy has been contemplating the spin-off since fiscal 2007 to separate its regulated utilities and open-market generation units. The new company – Enexus Energy Corp. will take over nuclear plants located in Pilgrim in Plymouth, MA; Vermont Yankee in Vernon, VT; Indian Point in Westchester County, NY; Fitzpatrick in Oswego County, NY; and the Palisades plant in Covert, MI.

New Orleans-based Entergy is primarily engaged in electric power production and retail distribution operations. The company owns and operates power plants with approximately 30,000MW of electricity generating capacity. Entergy delivers electricity to 2.7 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy Nuclear is the second largest nuclear generator in the U.S., with interests in six nuclear plants. We maintain our market Neutral recommendation on the shares.
Read the full analyst report on "ETR"
Zacks Investment Research

Clenergen Corp. (CRGE.OB) Has an Outstanding Group of Directors and Scientific Advisors

QualityStocks — Mon, 28 Sep 2009 18:06:33 +0000

Clenergen Corp. has developed a unique system of co-gasification and localized plantation management using proprietary and mixed biomass feedstocks to implement sustainable supplies of clean energy to regional, independent clients and national electric grids. The “distributed environmental power system” or DEPS combines significant proprietary advancements in plant science with proven, long-standing engineering technologies to achieve [...]

Constellation Energy Group Inc. Has Long-Term Potential, But Short-Term Problems

Contrarian Profits — Mon, 28 Sep 2009 15:05:15 +0000

pAs the second-largest provider of electricity to the United States,strong Constellation Energy Group Inc./strong (NYSE: a href="http://www.google.com/finance?q=NYSE%3ACEG" target="_blank"CEG/a) has a tremendous upside. At least, it would if the economy were growing strongly. /p pUnfortunately, that’s not the case. And that means Constellation will have to clear a number of hurdles if it’s going to fulfill its long-term promise.br / Last year, the company bet big on higher energy prices and paid the price dearly when the economy collapsed./p pConstellation’s very high level of debt, with large bond maturities in 2009 and 2012 at that time meant they were flirting with financial disaster. That forced the company into a deal with stronga href="http://www.google.com/finance?q=EPA%3AEDF" target="_blank"Électricité de France SA /a /strong(EDF),strong /strongin which the European energy giant agreed to inject $4.5 billion into Constellation in exchange#8230;/p

Duke Expanding Renewable Energy – Analyst Blog

Zacks Market Commentaries — Fri, 25 Sep 2009 20:58:57 +0000

North Carolina-based Duke Energy (DUK) continues to expand its renewable energy portfolio. Earlier this month, the company had declared its plan for building its second-largest renewable energy facility near Casper, Wyoming. The 200 MW Top of the World project, the company's fourth wind farm in Wyoming and ninth in the U.S., will generate enough electricity to power approximately 50-60 thousand households annually.

Duke expects to start the construction work of the project in late 2009 or early 2010, after receiving requisite approvals, and to commence commercial production by end of 2010. The company has signed a 20-year contract with PacifiCorp, which operates as Rocky Mountain Power in Wyoming, for selling the entire output and associated renewable energy credits of the plant.

Year to date, Duke has announced four new wind power projects, with a capacity totaling above 360 MW. Presently, Duke has over 500 MW of wind-powered energy facility under operation, which will exceed 700 MW by the end of this year. Additionally, it has nearly 5,000 MW in pipeline.

Longer-term, Duke will be able to record moderate earnings growth, while offering an attractive dividend yield. However, lower load usage will continue to be a challenge in FY10. Hence, we maintain our Neutral recommendation for the company.
Read the full analyst report on "DUK"
Zacks Investment Research

Dominion’s Long-term Resource Plan – Analyst Blog

Zacks Market Commentaries — Fri, 25 Sep 2009 18:20:55 +0000

A subsidiary of Dominion Resources (D) recently submitted its long-term Integrated Resource Plan to the Virginia State Corporation Commission (VSCC). The plan primarily showcases the roadmap to cope with growing energy needs of the state over the next 15 years at the lowest possible cost.

Dominion plans to construct new generation facilities and launch various energy efficiency programs to support increasing energy demand. The company will require nearly 8,900 MW of additional electricity to meet the projected demand. Dominion targets around 7,900 MW from new generation facilities and around 950 MW from energy conservation.

Dominion plans a 640 MW combined-cycle gas facility in Warren County and a new 1,300 MW nuclear generating unit at the North Anna Power Station in Louisa. Moreover, it targets around 300 MW from renewable generation projects, including wind and biomass plants. Presently, the company has over 400 MW of renewable generation capacity in its portfolio.

On the energy conservation front, Dominion submitted 12 programs to the VSCC in July seeking regulatory approval. These programs will save around $1.2 billion over the 15-year period. The company is chalking out additional programs for deployment.

Virginia-based Dominion is a leading provider of electricity, natural gas and related services to customers in the energy-intensive Midwest, Mid-Atlantic and Northeast regions of the U.S. The company has the potential to drive bottom line growth in the near term on deregulated generation fleet benefits from higher realized energy and capacity prices.

However, the stock currently reflects a valuation commensurate with Dominion’s earnings growth profile, lower business risks after the sale of its E&P businesses and changes in the Virginia regulatory framework. Hence, we maintain our Neutral recommendation for the company.

Read the full analyst report on "D"
Zacks Investment Research

FirstEnergy Positives Priced In – Analyst Blog

Zacks Market Commentaries — Fri, 25 Sep 2009 17:25:38 +0000

FirstEnergy (FE) expects to complete construction of the Fremont Energy Center by the end of 2010 and start commercial operation in 2011. Earlier, the company had extended the construction schedule of the plant through 2012 due to challenging economic environment and lower electricity demand.

FirstEnergy had purchased the partially complete plant from Calpine Corp. (CPN) in January 2008. The plant includes two natural gas combined-cycle combustion turbines and a steam turbine with 544 MW of load-following capacity and 163 MW of peaking capacity. With the revised construction schedule in place, FirstEnergy expects to spend around $200 million to complete the plant.

Ohio-based FirstEnergy is a diversified energy company engaged in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. It controls over 14,000 megawatts of generation capacity and serves more than 4.5 million customers in Ohio, Pennsylvania and New Jersey.

FirstEnergy remains focused on maintaining a strong balance sheet and improving operational efficiency. These have resulted in consistent operating performance in recent quarters despite slowing economic conditions.

Going forward, the shift of FirstEnergy’s subsidiaries to market based rates in 2011 will drive strong earnings and cash flow. However, these positives are effectively priced in its current share price. Hence, we maintain our Neutral recommendation for the company.

Read the full analyst report on "FE"
Read the full analyst report on "CPN"
Zacks Investment Research

DrStockPick.com Stock Report! 9/25/09, AUXL, AFFY, NRG, DCP, USAT, OWVI

Dr. Stock Pick — Fri, 25 Sep 2009 14:28:31 +0000

Dr Stock Pick HOT News & Alerts! _______________________________________ FREE Daily Stock Alerts From DrStockPick.com _______________________________________ Friday September 25, 2009 DrStockPick.com Stock Report! ************************************************************** Auxilium Pharmaceuticals, Inc. (NASDAQ: AUXL), a specialty biopharmaceutical company, today announced the pricing of a public offering of 3 million shares of its common stock. The offering is expected to close on or about September 30, [...]

Axial Vector Energy Corp. (AXVC.PK) Details Product Development Activities

QualityStocks — Thu, 24 Sep 2009 10:39:52 +0000

Axial Vector Energy Corp.’s mission is the development of low-cost, clean, and efficient energy technologies, making optimum use of chemical and electrical energy. Below are some of their recent activities and accomplishments. It’s interesting to note that these products were designed with the same sophisticated programs used by Boeing to design Jumbo Jets. • New Diesel / [...]

Allegheny Announces Debt Issue – Analyst Blog

Zacks Market Commentaries — Wed, 23 Sep 2009 15:45:00 +0000

Allegheny Energy (AYE) yesterday announced that its unregulated generation subsidiary Allegheny Energy Supply Company LLC (AE Supply) will issue $600 million aggregate principal amount of senior unsecured notes.

Of the $600 million notes to be issued, $350 million notes come with a coupon rate of 5.75% due 2019. The rest $250 million notes come with a coupon rate of 6.75% notes due 2039. The company anticipates the notes offering to be completed by Oct 1, 2009.

AE Supply will use the proceeds from the $600 million issue to repay a term loan of $447 million and refinance $150 million of its outstanding notes due 2011. The existing notes come with a dearer coupon rate of 7.80%.

The company is focused on cleaning its balance sheet and reduce interest burden by refinancing debt with lower interest rates. AE Supply’s proactive role in debt reduction has already reduced the interest burden of the Generation & Marketing segment by $2.8 million and $9.9 million year over year for the three and six months ended Jun 30, 2009, respectively.

This was due to lower average debt outstanding at lower interest rates under AE Supply’s credit facility and increased capitalized interest resulting from capital projects that were partially funded by cash from operations. Headquartered in Greensburg , Pennsylvania , Allegheny is engaged in both regulated electricity and natural gas distribution utility operations as well as in the unregulated wholesale energy markets.

The company operates through two business segments: the low-margin Delivery & Services and the high-margin Generation & Marketing. The Delivery & Services segment consists of three regulated electric utilities, which operate electric transmission and distribution systems and a natural gas distribution system. This segment provides electricity to 1.6 million customers in Pennsylvania , Virginia , Maryland and West Virginia . The Generation & Marketing segment consists of unregulated power generation operations and marketing operations, which are conducted primarily through its subsidiary, AE Supply. We maintain our long-term Neutral recommendation on Allegheny shares.
Read the full analyst report on "AYE"
Zacks Investment Research

U.S. Geothermal, Inc. CEO Interview: Daniel Kunz

Stuart T. Smith — Wed, 23 Sep 2009 14:00:05 +0000

67 WALL STREET, New York – September 22, 2009 – The Wall Street Transcript has just published its Alternative Energy/Clean Energy/Power Generation/Utilities Report report offering a timely review of the sector to serious investors and industry executives. This 83 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and [...]

DrStockPick.com Stock Report! 9/23/09, SALN, ABMD, NENE, ARST, SOPW, HEB

Dr. Stock Pick — Wed, 23 Sep 2009 13:48:14 +0000

Dr Stock Pick HOT News & Alerts! _______________________________________ FREE Daily Stock Alerts From DrStockPick.com _______________________________________ Wednesday September 23, 2009 DrStockPick.com Stock Report! ************************************************************** Salon City, Inc. (PINKSHEETS: SALN) announced today that it has signed another advertising contract with Salon Iris Software, which is produced by CMJ Designs Inc. out of Brighton, MI. The fall campaign will appear in BE! Magazine [...]

SunPower Shines in Italy – Analyst Blog

Zacks Market Commentaries — Tue, 22 Sep 2009 20:58:00 +0000

SunPower Corp. (SPWRA) recently teamed up with SunRay Renewable Energy to construct a 24MW solar electric power plant in Montalto di Castro, Italy. This project is the first phase of a planned 100MW development that is expected to be fully operational in 2010.

This would be Italy’s largest operating solar power plant after completion. Spread over 80 hectares, the Montalto di Castro project is owned by SunRay Renewable Energy. The company has engaged SunPower to design and construct the power plant apart from providing ongoing operations and maintenance services for the project. The project is being financed by a consortium of primary international and Italian. Electricity produced at the plant will find a ready market locally and any surplus will be added to Italy’s national electric grid.

SunPower is focused on tapping the rapidly expanding Italian solar market. Its 2008 acquisition of Solar Solutions, a solar systems integration and product distribution company based in Faenza, significantly helped the company to expand its dealer network in Italy.

Headquartered in San Jose, California, SunPower designs, develops, manufactures, markets and sells high-performance solar electric power technology products, systems and services worldwide for residential, commercial and utility-scale power plant customers. Its semiconductor-based solar cells and solar panels, which convert sunlight into electricity, are manufactured using proprietary processes and technologies.

SunPower operates through two business segments: Components and Systems. Its solar power products are sold through its Components segment. The Systems segment develops, engineers, manufactures and delivers large-scale solar power systems. We maintain our long-term Outperform rating on the shares.

Read the full analyst report on "SPWRA"
Zacks Investment Research

Snapshot Observations on the Global Economic Crisis

Robert Amsterdam — Tue, 22 Sep 2009 18:59:51 +0000

CNN Money is running an interesting feature by David Goldman entitled "10 countries, 10 solutions" which details the particularities of the global economic crisis facing 10 key countries. In typical old-media fashion, the layout makes no sense from a user-friendliness...

Mantra Wraps up ENTECH 2009 with Strategic Relationships, Prospective Financing and International Recognition

Stuart T. Smith — Tue, 22 Sep 2009 01:03:08 +0000

Sep. 21, 2009 (PR Newswire) — SEATTLE, WA, Sept. 21 /PRNewswire-FirstCall/ – Mantra Venture Group Ltd. (’Mantra’, OTCBB: MVTG, FSE: 5MV) is pleased to announce the success from its Korean business development mission as ENTECH 2009 draws to a close. Over the course of the past several days, Mantra executives met with numerous business representatives [...]

September 21st CEOcast Weekly Newsletter

QualityStocks — Mon, 21 Sep 2009 21:05:50 +0000

Companies featured in this edition of the newsletter: ACTC, CVM, CUR, DKAM, ENZ, IMUC, IWEB, PHC, SVUL, SRCO, SVUL, XSNX Markets extended their winning streak yet again this week, as all ten sectors of the S&P 500 finished in positive territory and markets hit fresh highs for the year once again, despite the lack of [...]

How Our Nation’s Future Energy Security Can Boost Your Portfolio Now

Investment U — Mon, 21 Sep 2009 19:28:01 +0000

Smart Grid Investing: How Our Nation’s Future Energy Security Can Boost Your Portfolio Now by Dave Fessler, Advisory Panelist The “Smart Grid.” You may have heard the media toss the term around recently. But ask the next 10 people you meet to tell you something… anything… about it, and I’ll wager that you’ll get deafening [...]