EnerNOC just announced that it is expanding its DemandSMART network in Northern California to provide an additional 30MW of demand response capacity, bringing EnerNOC’s total demand response capacity in the region to 70MW.
The DemandSMART network consists of commercial, institutional, and industrial customers who agree to use EnerNOC’s demand response software to reduce their energy usage when requested by PG&E. In exchange, these customers receive payments for committing to adjusting their usage when necessary plus … Read the rest
EnerNOC (ENOC) has announced that based on the 2013/2014 Reliability Pricing Model Base Residual Auction results, it now expects to recognize over $200 million in DemandSMART revenue from the PJM market in 2013. They have also increased their base residual market share from 35% in 2012/2013 to 40% in 2013/2014.
Canaccord Adams reiterated its Buy rating and $40 price target on EnerNOC (ENOC) this morning. Hat tip to Street Insider for the following analyst comment:
“With Street interest in the auction results elevated given the industry significance of the PJM market (currently ~50% of revenues), last Friday’s data reinforces our thesis of strong, secular growth in the demand response (DR) market, along with EnerNOC’s leadership position appearing … Read the rest
EnerNOC just signed a 40MW demand response agreement with Tucson Power. Under the agreement, EnerNOC will use its DemandSMART application to provide up to 40MW of demand response capacity for commercial, institutional, and industrial facilities located in Tucson Electric Power’s service area. Customers will be able to monitor their energy use and will receive payments from EnerNOC in return for allowing EnerNOC to manage their sites energy performance from its Network Operations Center.
Wedbush Morgan initiated coverage on EnerNOC (ENOC) this morning with a Neutral rating and price target of $25. Hat tip to Street Insider for the analyst comment.
“Demand response is undergoing rapid market evolution, with significant changes to contract and auction procedures, which could both positively and negatively impact the outlook. Slow traction in EnerNOC’s energy management business after allocation of significant resources raises valid questions about the company’s ability to serve this market, or … Read the rest
A few analyst notes to tell you about this morning on EnerNOC (ENOC) which reported earnings last night and Evergreen (ESLR) which reported uninspiring results two days ago. Clearly, these companies are heading in opposite directions and the analysts agree. Hat tip to Street Insider for the following analyst comments.
Both UBS and Citi maintain their Sell ratings on ESLR. UBS lowered the price target to below a buck at .90 and the FY10 EPS … Read the rest
EnerNOC (ENOC) reported results after the bell that were stronger than Wall St forecasts. The company posted a narrower loss of .41/share vs the estimate of .69/share loss on revenues of $28.1 million which beat estimates by about $2 million. That’s a nice beat and considerably better than the year ago quarter when the company posted a loss of .48/share. Revenues increased 53% over the year ago quarter. I’m not sure the results were strong … Read the rest
It’s always a real challenge to keep up during earnings season and I burned out a bit by Friday. I’ve got a bit of catching up to do today and I start with Friday’s analyst alerts. Hat tip to Street Insider for the analyst comments.
A couple calls on Rubicon Technology (RBCN), the emerging LED play, following its earnings report last week…
Canaccord Adams reiterated a Buy and raised the price target from $30 … Read the rest
Brean Murray is out with a bullish call on the smart grid sector this morning and believes that with healthcare reform out of the way, the government will return its attention back to energy and energy efficiency. Hat tip to Street Insider for the following analyst comment.
“…With (Fed’s) funding checks expected by the second half of 2010 accelerating smart grid deployment projects, and an expectation for increased federal attention back toward energy and efficiency … Read the rest
EnerNOC (ENOC) is doing a bit of shopping and has acquired Colorado based SmallFoot LLC to target the smaller scale commercial demand response market. Integrating SmallFoot’s technology will help EnerNOC reduct DemandSMART deployment costs at these sites and help open up new opportunities.
Smart move from ENOC. Small commercial sites make up 90% of facilities and consume 40% of the power according to the Energy Info Administration. … Read the rest
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