Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
No matching data
Latest Views
Latest Views
Trending Topics
To quickly learn market dynamics and follow market focuses in 15 min.
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Top Columnists
Enjoy exciting activities, right here at FastBull.
The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
View All
No data
Not Logged In
Log in to access more features
FastBull Membership
Not yet
Purchase
Log In
Sign Up
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
BofA Securities analyst Ross Fowler reinstated coverage on four US utilities in the Great Plains.
The analyst reaffirmed the Buy rating at Evergy, Inc. and MDU Resources Group, Inc. .
Meanwhile, Fowler reiterated the Neutral rating on OGE Energy Corp and Underperform rating on Black Hills Corporation .
EVRG: The analyst kept the price target at $66. The analyst says that despite trading at a 10% discount compared to peers on a 2026E P/E basis, the improving Kansas regulatory environment, which supports higher rate base growth, appears undervalued.
The analyst estimates FY24, FY25 and FY26E EPS at $3.86, $4.09 and $4.30, respectively, all above consensus.
Fowler writes that consensus EPS estimates for FY26 and FY27 remain largely unchanged despite the benefits from House Bill 2527.
MDU: The analyst reiterated the price target of $28. Fowler believes the current 15% discount to the electric utility peer group is unjustified, considering MDU’s ongoing transition to a pure-play regulated utility and pipeline operator, along with its projected 6-8% EPS growth rate through the planning period.
Although the company’s multi-jurisdictional presence may lead to some delays in recovery, the analyst expects sustained support for earned ROEs at the electric utility, driven by a strong pipeline of data center customer connections in areas experiencing transmission congestion.
OGE: The analyst reiterated a $40 price target. While the analyst values OGE’s execution and growth potential from data center and crypto-mining load, the challenging regulatory environment in Oklahoma and significant capital investments needed for resource adequacy present risks.
Fowler expects EPS estimates of $2.14, $2.28, and $2.43 for FY24, FY25, and FY26, respectively, in line with consensus estimates.
BKH: The analyst reaffirmed a $59 price target. The analyst says that BKH’s electric utility operations are poised for growth with rising residential, commercial, and data center load, which currently contributes 5% to EPS and is expected to exceed 10% by 2028.
Fowler expects rate base expansion opportunities in South Dakota and Colorado to support a 7%+ CAGR. However, $1.6 billion in debt maturities from 2023 to 2028, with a 3.03% average interest rate, could create a ~$0.50 EPS headwind, exacerbating risks given BKH’s already low 4-6% target EPS CAGR, adds the analyst.
Fowler anticipates EPS estimates of $3.88, $4.13, and $4.35 for FY24, FY25, and FY26, below the consensus estimates of $3.92, $4.14, and $4.40, respectively.
Read Next:
Latest Ratings for EVRG
Date | Firm | Action | From | To |
---|---|---|---|---|
Jan 2022 | Evercore ISI Group | Downgrades | Outperform | In-Line |
Jan 2022 | Goldman Sachs | Downgrades | Buy | Neutral |
Sep 2021 | Wells Fargo | Maintains | Equal-Weight |
View More Analyst Ratings for EVRG
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Evergy Inc (EVRG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Evergy Inc is one of 105 companies in the Utilities group. The Utilities group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Evergy Inc is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for EVRG's full-year earnings has moved 0% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that EVRG has returned about 15.1% since the start of the calendar year. Meanwhile, stocks in the Utilities group have gained about 14.7% on average. This means that Evergy Inc is performing better than its sector in terms of year-to-date returns.
One other Utilities stock that has outperformed the sector so far this year is NiSource (NI). The stock is up 26.4% year-to-date.
For NiSource, the consensus EPS estimate for the current year has increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Evergy Inc is a member of the Utility - Electric Power industry, which includes 59 individual companies and currently sits at #64 in the Zacks Industry Rank. On average, this group has gained an average of 18.5% so far this year, meaning that EVRG is slightly underperforming its industry in terms of year-to-date returns. NiSource is also part of the same industry.
Evergy Inc and NiSource could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
Zacks Investment Research
New Jersey Resources NJR announced that its board of directors has approved a 7.1% increase in its quarterly dividend rate. The new dividend rate will be 45 cents per share compared with the previous quarter’s 42 cents, payable on Oct. 1, 2024, to stockholders of record as of Sept. 23.
This increase resulted in an annualized dividend of $1.80 per share compared with the previous level of $1.68. The company has paid quarterly dividends continuously since its inception in 1952 and has raised the dividend every year for the past 29 years. NJR’s current dividend yield is 3.63%, higher than the Zacks S&P 500 composite's average of 1.29%.
Can NJR Stock Sustain Dividend Hikes?
New Jersey Resources makes consistent investments to upgrade and maintain its existing infrastructure. The idea is to provide reliable services to its customers around the clock. The company expects capital expenditures to be in the range of $490-$580 million and $495-$675 million for fiscal 2024 and fiscal 2025, respectively. This systematic capital expenditure is likely to support the long-term earnings growth target of 7-9%.
The company’s top line benefits from an expanding customer base. New Jersey Resources added 5,939 new customers during the first nine months of fiscal 2024 compared with 5,892 in the corresponding period of fiscal 2023. It expects these new customers to contribute nearly $5.1 million of incremental utility gross margin on an annualized basis.
The company’s Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of approximately 477 megawatts (MW), providing residential and commercial customers with low-carbon solutions. In the year-to-date period of fiscal 2024, it increased capacity by nearly 8 MW. A project pipeline of nearly 873 MW is in process, which, once operational, should further boost the overall performance.
New Jersey Resources has the potential to expand and improve even further, which suggests that management will have sufficient funds to continue with its shareholder-friendly initiatives in the future.
Utilities’ Legacy of Dividend Payment
Companies involved in utility services generally have stable operations and earnings. Consistent performance, regulated returns and the ability to generate cash flows allow utilities to reward shareholders with regular dividends.
In the past few months, MDU Resources MDU, National Fuel Gas Company NFG and Chesapeake Utilities Corp. CPK have raised their quarterly dividend rate by 4%, 4% and 8.5%, respectively.
The Zacks Consensus Estimate for MDU Resources’ 2024 earnings is pegged at $1.55 per share, implying a year-over-year increase of 3.3%. MDU’s current dividend yield is 1.99%.
The Zacks Consensus Estimate for National Fuel Gas’ fiscal 2024 earnings has increased 10.1% in the past 90 days to $5.13 per share. NFG’s current dividend yield is 3.4%.
The Zacks Consensus Estimate for Chesapeake Utilities’ 2024 earnings is pegged at $5.39 per share, implying a year-over-year increase of 1.5%. CPK’s current dividend yield is 2.15%.
NJR’s Stock Price Performance
In the past three months, New Jersey Resources’ shares have risen 9.8% compared with the industry’s growth of 9.7%.
Zacks Rank
NJR currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
For Immediate Release
Chicago, IL – September 12, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NiSource Inc. NI, American Water Works Co. Inc. AWK, Xcel Energy Inc. XEL, Evergy Inc. EVRG and DTE Energy Co. DTE.
Here are highlights from Wednesday’s Analyst Blog:
Top Utility Stocks to Gain on Coming Interest Rate Cuts
Wall Street is keenly waiting for the outcome of the Fed’s most crucial FOMC meeting scheduled Sept. 17-18. Market participants are highly enthusiastic about the beginning of the low interest rate and accommodative monetary regime. The CME FedWatch tool currently shows a 100% probability of a 25-basis-point rate cut along with a 35% chance of a 50-basis-point rate cut this month.
Under this scenario, the utility sector is in focus. Utility operations are capital-intensive, as consistent investments are required to upgrade, maintain and replace older wires, electric poles and power stations. Hence, apart from internal fund sources, utilities depend on the credit market for funds to carry on upgrades. Therefore, a reduction in the benchmark lending rate will provide a boost to this sector.
At this stage, we have selected five utility stocks for investment. These are NiSource Inc., American Water Works Co. Inc., Xcel Energy Inc., Evergy Inc. and DTE Energy Co.
These companies have positive (single-digit) earnings per share (EPS) growth potential for next year along with stable revenue growth on a year-over-year basis. These stocks are regular dividend payers. Each of our picks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Utilities Sector Surprisingly Flourishes in 2024
The utilities sector is generally defensive in nature. U.S. stock markets witnessed an impressive bull run in 2023, but the utility sector suffered a blow. Of the 11 broad sectors of the market’s benchmark — the S&P 500 Index — the Utility sector declined more than 11%.
Wall Street’s bull-run continues in 2024 too. Surprisingly, the defensive utilities sector has become a major part of this year’s rally so far. Year to date, of the 11 broad sectors of the S&P 500 Index — the utilities sector has turned out to be the best performer, rallying 21.7%.
Utilities are mature and fundamentally strong as demand for such services is generally immune to the changes in the economic cycle. Such companies provide basic services like electricity, gas, water and telecommunications, which will always be in demand.
Consequently, adding stocks from the utility basket usually lends more stability to a portfolio in an uncertain market condition. Moreover, the sector is known for the stability and visibility of its earnings and cash flows. Stable earnings enable utilities to pay out consistent dividends that make them more attractive to income-oriented investors.
Buy 5 Utility Stocks Set to Benefit From Interest Rate Cuts
NiSource Inc.
NiSource expects to invest $16.4 billion through 2028 in modernizing infrastructure, which will enhance the reliability of its operations. Within 18 months, nearly 75% of NI’s investment was recovered through rate hikes, providing to carry on infrastructure upgrades. NI continues to add clean assets to its portfolio and retire coal-based units. NI has enough liquidity to meet debt obligations.
NI Share Has Strong Next-Year EPS and Revenue Potential
For next year (ending December 2025), NiSource has a projected EPS and revenue growth rate of 6.8% and 12.1%, respectively. NI has a current dividend yield of 3.2%. The stock price of NiSource has jumped 18.9% in the past three months.
American Water Works Co. Inc.
American Water Works has been gaining from contributions coming from acquired assets and military contracts. Investments in infrastructure will assist AWK to efficiently serve its customers. New water and wastewater rate hikes are also boosting AWK’s performance. AWK continues to expand its operations through organic and inorganic initiatives. AWK has ample liquidity to meet its debt obligations.
Solid Next-Year EPS and Revenue Potential for AWK Stock
For next year (ending December 2025), American Water Works has a projected EPS and revenue growth rate of 8% and 3.1%, respectively. AWK has a current dividend yield of 2.1%. The stock price of American Water Works has surged 15.6% in the past three months.
Xcel Energy Inc.
Xcel Energy is poised to benefit from its solid capital investment plan for infrastructure strengthening and clean power generation. XEL is reducing coal usage and targets to lower emissions by at least 80% by 2030 and achieve carbon neutrality by 2050. XEL’s expanding customer base and rising demand act as tailwinds.
XEL Stock Has Impressive Current Dividend Yield
For next year (ending December 2025), Xcel Energy has a projected EPS and revenue growth rate of 8% and 6.2%, respectively. XEL has a current dividend yield of 3.5%. The stock price of Xcel Energy has climbed 16.5% in the past three months.
Evergy Inc.
Evergy continues to benefit from its expansion of operations in the transmission market through collaborations, strategic acquisitions and partnerships. Through planned investments and the Integrated Resource Plan, EVRG aims to add more renewable assets and become carbon neutral by 2045. EVRG improves shareholders’ value through dividend payments and has enough liquidity to meet debt obligations.
Robust Current Dividend Yield for EVRG Share
For next year (ending December 2025), Evergy has a projected EPS and revenue growth rate of 4.9% and 2%, respectively. EVRG has a current dividend yield of 4.3%. The stock price of Evergy has appreciated 13.7% in the past three months.
DTE Energy Co.
DTE Energy follows a disciplined capital spending program to maintain and upgrade its infrastructure to enhance the reliability of its utility systems. DTE plans to make investments worth $20 billion over the 2024-2028 period. DTE is actively promoting clean energy through its MIGreen Power program and aims to achieve the zero-carbon emission target by 2050.
DTE Stock Has Strong Next-Year EPS and Revenue Estimate
For next year (ending December 2025), DTE Energy has a projected EPS and revenue growth rate of 7.3% and 4.3%, respectively. DTE has a current dividend yield of 3.3%. The stock price of DTE Energy has advanced 11.4 % in the past three months.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research
White Label
Data API
Web Plug-ins
Poster Maker
Affiliate Program
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.