NextEra Energy (NEE), the largest provider of wind and solar power in the US, reported results this morning that beat analyst estimates and the company reported quarter over quarter revenue growth for the first in over a year. They reported a non GAAP EPS of $1.45/share vs the analyst expectation of $1.43 on revenues of $4.69 billion vs the expectation of revenues of $4.52 billion.
====> Click Here For Your FREE Daily NextEra Technical Analysis… Read the rest
Power-One (PWER) is powering much higher in after hours trading after smashing estimates once again and guiding higher. The company , a leading provider of renewable energy and energy-efficient power conversion and power management solutions, posted record EPS and revenues with an EPS of .40/share on revenues of $314 million. That’s a smashing of the consensus estimate of just .23/share on revenues of $265 million and a big jump over the year ago quarter when … Read the rest
The wind energy industry continues to struggle and Vestas Wind (VWDRY) is confirming what General Electric is seeing .. weak demand. GE went so far as to say the US wind energy market has collapsed. Vestas hasn’t made similar claims, but their actions speak much louder than words.
The company is cutting 3000 jobs and shutting plants due to shrinking power demand, rising component costs and uncertain US policy. So much for Obama’s push to … Read the rest
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
China Wind Systems (CWS) has been awarded a $3 million contract by Nanjing Chang Feng to supply them with a total of 1500 units of high speed shafts used to transmit energy from the gearbox to the generator in order to produce electricity from wind turbines. The first 500 units will be delivered before the end of the year and the rest in the 1st half of next year.
General Electric (GE) reported earnings on Friday, disappointing investors with poor results out of its energy infrastructure division. The CFO went so far as to say that the US wind market has collapsed with a 15% year over year decline in wind related business.
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Here are some highlights of the conference call related to their wind energy biz (transcript via Seeking Alpha)
Keith … Read the rest
Recently, another vehicle for trading the China wind energy space began trading. China Ming Yang (MY) made its IPO debut on the NYSE under the ticker symbol MY on October 1st. They are the largest non state owned wind turbine manufacturer and have had more success in China than A-Power Energy (APWR), but they don’t have a presence in the US outside of a recently opened office in Dallas, TX (APWR does). The other thing … Read the rest
Google (GOOG) announced on their official blog last night that they are investing in the development of a major transmission backbone for wind farms off the Mid Atlantic coast which will stretch 350 miles from NJ to Virginia and have the capacity to connect 6000MW in offshore wind energy.. enough to serve nearly 2 million homes.
The Mid-Atlantic region is well suited to offshore wind energy with 60,000 MW of potential in relatively shallow waters … Read the rest
Barclays came out with a few calls yesterday, maintaining its Equalweight rating on both Itron (ITRI) and American Superconductor (AMSC).
The firm has a $70 price target on ITRI which is about 15% higher than the current price. They are raising 2010 estimates from $3.35 to $3.65 and 2011 estimates from $3.67 to $4.06. Shares of ITRI are increasingly bullish in recent weeks, getting back above resistance of the 50 day moving average. In my … Read the rest
Wunderlich Securities rates American Superconductor (AMSC) a Buy and has a $50 price target which would represent a nearly 70% move up from current levels. The firm notes that the company has significant cash reserves and no debt. Shares of AMSC continue to remain in basing pattern and are now testing resistance of the 200 day moving average.
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Wunderlich is also bullish on shares … Read the rest