As expected, Itron (ITRI) didn’t post great results after the bell today and that’s been the case for much of the past year as utilities continue to curb spending. The company posted an EPS of .45, missing analyst estimates by .07 on revenues of $408 million which also misses estimates ($418 million). The stock isn’t getting hit too hard after hours because expectations were low going in and most traders recognize that with stimulus … Read the rest
Category Archives: smart grid
Itron (ITRI) To Miss Earnings Expectations Tomorrow? I Hope So
I came across a Reuters article today discussing the Itron (ITRI) earnings report tomorrow and they believe (along with a few analysts) that Itron will report poor results tomorrow after the bell due to a cut back on spending from utilities, but are bullish longer term. I would like nothing more than for Itron to miss by a wide margin tomorrow so that I can continue to add to a long term position at a … Read the rest
Obama Dishes Out Stimulus Cash For The Smart Grid (ELON, ITRI, COMV, POWR, ENOC)
The Obama administration announced today which smart grid projects will receive $3.4 billion in federal funding. A Dept of Energy official has said that about 25% of the projects that applied for funding received a boost from the government with awards ranging from $400K up to $200 million for single projects. The smart grid stimulus is expected to help get 18 million more advanced metering systems installed throughout the US.
Here are the utilities receiving … Read the rest
GDF Suez Teams Up With Comverge (COMV) To Offer Customers Demand Response
It was announced this morning that the retail biz of GDF SUEZ has teamed up with Comverge (COMV) in order to offer its commercial and industrial customers demand response services to help them decrease energy usage and cost. GDF SUEZ is currently the 2nd largest provider of non residential energy, so this is a significant win for Comverge. At first, the ERCOT, NEPOOL, NYISO and PJM territories (whatever that means) will be served with additional … Read the rest
Deutsche Bank Upgrades Itron (ITRI) To Buy: "Numerous Positive Catalysts"
Deutsche Bank is out this morning upgrading Itron (ITRI) to Buy and raising the price target to $70.
Hat tip to StreetInsider.com for the following analyst comment:
“We encourage investors to accumulate shares as we believe 1) sentiment and forward est’s will trough within the next month, 2) there are numerous positive catalysts on the horizon and 3) Itron’s valuation is attractive (14.5x CY11 EPS). While there is risk to the Street’s 3Q est, we … Read the rest
Ambient Corporation And Itron (ITRI) Develop Ambient EDC Module
Ambient Corporation and Itron have partnered to develop a product called the Ambient® EDC module. The module allows legacy automatic reader systems to newer, advanced smart grid systems. The module is installed at strategic positions along the grid to pick up data from encoder receiver transmitter systems (ERT meters). This negates the need for drive-by meter readings and allows utilities to set up monitoring in real time.
In a press release, John J. Joyce, Ambient’s … Read the rest
Echelon (ELON) To Work With Eaton To Provide Residential Smart Grid Services
Echelon just announced that it will work with Eaton Corporation to offer smart grid services to residential customers. Under the agreement, Eaton will become a value-added reseller for Echelon, combining their own home automation product line with Echelon’s Networked Energy Services (NES) System. The deal encompasses Europe, the Middle East and Africa, and will help the EU meet its target of a 20 percent increase in energy efficiency.
The combination of Eaton’s product with Echelon’s … Read the rest
EnerNOC (ENOC) Gets Valuation Downgrade From Janney Montgomery
EnerNOC has had quite a run this year, up nearly 5 fold. With runs like that often come valuation downgrades and Janney Montgomery Scott is out with one this morning, cutting the stock to Neutral.
Hat tip to StreetInsider.com for the following analyst comment:
“We are downgrading EnerNOC to NEUTRAL based on valuation. We are still strong believers in the EnerNOC story and believe that the Company maintains a very strong position in the rapidly … Read the rest
Powersecure Intl (POWR) Gets $12 Million Smart Grid Power Systems/Infrastructure Order
PowerSecure International (POWR) has announced $12 million in new orders which include orders for smart grid power systems and new utility infrastructure projects. The new orders represent roughly 30 – 40% of what the company brings in each quarter in revenues, so not a huge order but significant. Revenue will be recognized once the projects are completed which the company expects to happen beginning in the 4th quarter of this year and continue through the … Read the rest
American Superconductor (AMSC) Forms AMSC Korea To Capitalize On Growing Opportunity In Wind Energy & Smart Grids
American Superconductor is forming AMSC Korea to accelerate a push into a growing market for wind energy and power grids. The new HQ will reside in Busan, South Korea and house engineering, sales, biz development and field support for AMSC customers which currently include LS Cable, KEPCO, KEPRI, KERI, Doosan Heavy Industries and Hyundai Heavy Industries.
Dan McGahn, senior VP of AMSC, said, “The country is investing billions of dollars to bolster its power grid … Read the rest