There are few bright spots in the world of green energy these days and while Green Plains Renewable Energy (GPRE) can’t be called a green energy pure play and I’m not a big fan of ethanol, they are profitable and seeing significant growth. So there ya go.. we’ll take the positives in the green energy space when we can get it.
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The company beat … Read the rest
Green Plains Renewable Energy (GPRE) reported results after the bell yesterday that were about inline with what analysts were expecting. The company reported an EPS of .20/share which matched the estimates on revenues of $812 million (a bit above analyst estimate of $789 million). It was likely a strong enough report to keep shares in a technically bullish state (more on this in a bit), but considering the company reported record revenues the drop in … Read the rest
Pacific Ethanol (PEIX) is surging about 20% today with heavy volume after the company announced this morning that it resumed ethanol production at its facility in Stockton, CA on Dec 9 and is running at about full capacity.
It should be noted that this isn’t new news. The company first reported back in October it would resume operations due to governmental support for ethanol at the local and Federal (EPA) level.
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In recent weeks the ethanol/biofuel stocks such Pacific Ethanol (PEIX), Verenium (VRNM), Green Plains Renewable Energy (GPRE) and Biofuel Energy (BIOF) are showing quite a bit of momentum. While big initial surges have already taken place, bullish digestion periods in these stocks may soon give way to more gains. Below I’ve provided a video walking through the charts of these stocks.
24/7 Wall St published their list of the 25 most important alternative energy companies a few days ago and broke it down by category. I thought I’d highlight the companies they consider to be the most important in each category (which I agree with) and add in some of my own thoughts. There is one glaring omission in 24/7 Wall St’s report and that is geothermal. Geothermal remains the red headed step child of the … Read the rest
Green Plains Renewable Energy (GPRE) smashed estimates after the bell today posting an EPS of $0.23/share vs the analyst estimate of just .13/share on revenues of $496 million vs the analyst estimate of $433 million. That’s a 5% bump in EPS over the year ago quarter and a 37% surge in revenues. That’s the sixth straight profitable quarter and the company expects to remain profitable next year. Not too shabby for any company especially an … Read the rest
Pacific Ethanol (PEIX) is moving in pre-market trading on news the company plans to resume ethanol production at its Stockton, California facility and expects to begin in December. The move comes as a result of two big decisions – the approval in the California state budget to provide funding for the California Ethanol Producer Incentive Program which provides payments to ethanol producers during times when the margins are unfavorable (I’d sure love that in my … Read the rest
A few analyst rating changes to tell you about today.
Bank of America (BAC) is maintaining its Buy rating on Cree Inc (CREE) and increased 2012 EPS estimates to $3.21 per share. Shares of CREE are holding the flat line today despite a healthy down day in the overall market.
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Morgan Joseph began coverage of Andersons (ANDE) with a Buy rating and $48 price target. … Read the rest
A couple more firms have come out with notes on Itron (ITRI) after it was rumored that Siliver Springs Networks will win the BG&E deal, not Itron. Hat tip to Street Insider for the analyst comments.
Wedbush is downgrading Itron from Outperform to Neutral and is also cutting the price target from $85 to $62. “The loss of BG&E to SSN suggests continued headwinds for Itron’s backlog growth, lowers Itron’s general credibility with existing … Read the rest
Waste not, want not: Green Plains Renewable Energy just announced that they will begin extracting corn oil at its ethanol plants, a project the company expects to supplement its operating income with an additional $15 million to $19 million per year. Green Plains expects to have the technology in place at all of its plants by the first quarter of next year.
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In a press release… Read the rest