This morning EnerNOC (ENOC) announced it has extended an agreement with the state of Connecticut to continue to provide its demand response services through 2014. The company has provided the state with its services since 2006, helping them to earn more than $4 million in demand response payments from EnerNOC. The payments to the state are quarterly and based on the decrease of energy use during peak demand, stabilizing energy costs and reducing the risk … Read the rest
Tag Archives: enoc
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
Brean Murray Initiates AMSC, ENOC With Buy; COMV, ELON At Hold
Brean Murray has initiated coverage on four green stocks this morning. American Superconductor (AMSC) and EnerNOC (ENOC) get Buy ratings from the firm while Echelon (ELON) and Comverge (COMV) get Hold ratings.
Hat tip to StreetInsider.com for the following analyst comments:
“Buoyed by an experienced management team and strong wind energy market growth in China, AMSC’s revenues grew from $52 million in FY06 to $183 million in FY08. With a continuation of the current wave … Read the rest
EnerNOC (ENOC), So Co Edison 150MW Demand Response Contract Approved
The 150MW demand response contract between EnerNOC (ENOC) and So Co Edison which was originally announced in June 08, has been approved by the California Public Utilities Commission and will be effective until the end of 2012.
“The CPUC’s decision reflects the important role that demand response can play in reducing peak demand in SCE’s service territory,” said Tim Healy, EnerNOC’s chairman and CEO. “Adding more demand response resources to the state of California further … Read the rest
Enernoc (ENOC) Under Pressure AH On Proposed Stock Offering
EnerNOC (ENOC) is off after hours following the announcement that it has filed a preliminary prospectus with the SEC to offer up to 3,750,000 shares of common stocks with proceeds being used for biz expansion, strengthening its working capital position, future acquisitions and R&D. Considering the run the stock has had, the move isn’t much of a surprise. ENOC will offer 3 mill of shares and certain shareholders will offer the rest. … Read the rest
Canaccord Adams Joins Jefferies In EnerNoc (ENOC) Buy Ratings
Earlier this morning, Jefferies upgraded EnerNoc (ENOC) from Hold to Buy following its strong earnings report last night. Canaccord Adams is positive on the company as well, reiterating its Buy rating on the company and raising the price target from $28 to $32.
Hat tip to StreetInsider.com for the following analyst note:
“Strong execution across the board, as better-than-expected MW additions and expense control drove the significant top-/bottom-line beat. Looking ahead, with gross margins … Read the rest
EnerNoc (ENOC) Surges AH After Earnings Beat; Rapidly Moving Towards Profitability
EnerNoc (ENOC) is emerging as a demand response leader and is well on its way to becoming the first to profitability (ahead of rivals Comverge and Echelon). The company blew away EPS estimates again this quarter, reporting a non GAAP loss of .12/share vs expectations of a .33 loss. Revenues were better than expectations as well, coming in at $42 million vs the expectation of $39 million.
Helping to push the stock higher after hours … Read the rest
EnerNoc (ENOC) Acquires Greenhouse Gas Software Firm eQuilibrium Solutions
EnerNoc (ENOC), the demand response company quickly moving towards profitability is expanding its reach with today’s announcement of the purchase of greenhouse gas software and services firm eQuilibrium who’s current clients include Sears and News Corp. eQuilibrium’s software will eventually be integrated into EnerNOC’s existing PowerTalk platform but the company doesn’t expect this deal to have any impact on its financial results this year. Terms of the deal have not been disclosed.
“Our customers continue … Read the rest
Enernoc (ENOC) Gets Demand Response Deal With Vermont’s Green Mountain Power
Enernoc (ENOC), an emerging leader in demand response networks, has signed a deal with one of Vermont’s largest electric utilities, Green Mountain Power allowing its customers to save on energy costs by reducing their energy usage during peak demand. Customers currently enrolled in Green Power’s demand response system will be rolled into EnerNOC’s system and the two companies will work together to add more commercial, institutional and industrial customers to the demand response network. Companies … Read the rest
Smart Grid Players EnerNoc (ENOC) & Echelon (ELON) Report Earnings
Several days ago Itron (ITRI), the smart grid 800lb gorilla, reported disappointing earnings. Today, the unprofitable up and comers EnerNoc (ENOC) and Echelon (ELON) reported large losses but losses that were considerably less than the estimates.
Echelon (ELON) reported a non GAAP loss of .19/share which beat estimates of a loss of .34 by a wide margin. Revenues also came in better than expected at $18.2 million vs the estimate of $17.8 million. Despite … Read the rest